How interest is calculated in profession tax if tax liablity is less than 50,000/- rupees yearly

How interest is calculated in profession tax if tax liablity is less t

1.	How interest is calculated in profession tax if tax liablity is less than 50,000/- rupees yearly
Answer» Tax Exemption for Senior CitizensGoing by the definition, a senior citizen is an individual resident of India (man or woman) who is at least 60 years of age or more but less than 80 years of age. For the purpose of Income Tax calculation, this age is calculated as on 1ST of April of that financial year. This implies that any individual, man or woman, who was born before 1st April 1957 but after 1st April 1937 would be considered a senior citizen in India currently.In general, there is a difference in case of senior citizen in terms of the design of their salary structure, their income tax calculations and the pension ISSUED. In most of the cases, senior citizens are offered some additional BENEFITS such as senior citizen concession, senior citizen discounts or SUBSIDIZED cost structure. An important thing to note here is the way how the tax structure is designed for senior citizens and how their salary and tax computation is done.