What is the tax rates give details brieflly m,f,senior citizen?

First of all you must know who are Senior citizens. Not all the retired persons are Senior citizens. The meaning of Senior citizens differs between departments. Say for example, for Railways and Banks age >60 years. For our beloved Income Tax Department it is >65 years.

Income Tax definition for senior citizen:
"Under the Income Tax Act, a senior citizen is a person who at any time during the previous year has attained the age of 65 years or more."

Tax Slabs for Senior Citizen.
1. No till till Rs.1,95,000
2. From 1,95,001 to 2,50,000 @20%
3. From 2,50,001 to any amount @30%

Tax + Education Cess @3%.
10% Surcharge on tax if the income exceeds Rs,10,00,000.

for senior citizen Rs.1,95,000 for males Rs. 1,10,000 womens up to Rs.1,45,000

In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year, the exemption limit is proposed to be raised from Rs. 1,85,000 to Rs. 1,95,000. The rates of income-tax on total income in such cases will be as under鈥?br>

Up to Rs. 1,95,000 Nil
Rs. 1,95,001 to Rs. 2,50,000 20 per cent.
Above Rs. 2,50,000 30 per cent.

The present rates of income tax applicable for financcial year 2007-08 (Assessment Year 2008-09) are as under :
male female senior citizen Tax
Threshold limit 110000 145000 195000 NIL
Tax Slab rates above threshold limit :
Male :
Rs.110,001 to 150000 10 %
> Rs.1,50,000 upto 250000 Rs. 4000 + 20 % in excess of
Rs.150000/=
> Rs.2,50,000 Rs.24,000 + 30 % in excess of
Rs.250000/=
Female :
Rs.145,001 to 150000 10 %
> Rs.1,50,000 upto 250000 Rs. 500 + 20 % in excess of
Rs.150000/=
> Rs.2,50,000 Rs.20,500 + 30 % in excess of
Rs.250000/=

Senior Citizen :
> Rs.1,95,000 upto 250000 20 % in excess of
Rs.150000/=
> Rs.2,50,000 Rs.11,000 + 30 % in excess of
Rs.250000/=

This taxable income has to be arrived at after deducting eligible exempted savings, donations, etc under sec.80c, 80d,80g, 80e etc. in addition to the eligible negative income on the house property such as interest paid/accrued on housing loan.

PERSONAL TAX RATES

For individuals, HUF, Association of Persons (AOP) and Body of individuals (BOI):

For the Assessment Year 2007-08
Taxable income slab (Rs.) Rate (%)
Up to 1,10,000
Up to 1,45,000 (for women)
Up to 1,95,000 (for resident individual of 65 years or above) NIL
1,10,000 鈥?1,50,000 10
1,50,001 鈥?2,50,000 20
2,50,001 鈥?1,000,000 30
1,000,001 upwards 30*
*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000.

Note : -

Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.
A marginal relief may be provided to ensure that the additional IT payable, including surcharge, on excess of income over Rs 1,000,000 is limited to an amount by which the income is more than this mentioned amount.