In wireless communication we mainly exploit the Electromagnetic Spectrum. Earlier systems were narrowband long range systems but in order to extend the use of available spectrum we are now using UWB (Ultra-wide band) short range systems which have advantages of low power consumption, high date rate, high time resolution,low-cost implementation, obstacle penetration, resistance to interference, covert transmission, co-existence with narrowband systems and so on. Such advantages enable a wide range of applications of UWB to communications, radar, imaging and positioning. These are built using inexpensive digital components. Microstrip antenna is used for implementing UWB systems as it shows good broadband characteristics. We propose a compact planar rectangular dual band notched microstrip line fed Microstrip Antenna for UWB applications. The proposed antenna is designed using simulation software CADFEKO VERSION 6.2. This band-notched antenna has rejection characteristics at 3.5 GHz (for Wi-MAX band-3.3 to 3.7GHz), at 5.5 GHz (for WLAN 2 band- 5 to 6 GHz).