Monday, February 28, 2011
Budget 2011: Tax relief for individuals.
To-days budget has given little relief to the tax payers
Income tax limit to Rs. 1.8 lakh from the present Rs. 1.6 lakh.
This now becomes uniform for both men and women.
senior citizen's eligibility age has come down to 60 years from 65 years
Tax exemption for senior citizens would be Rs. 2.5 lakh from the present Rs. 2.4 lakh.
A special category of tax-paying senior citizens. Those 80 or above would get an exemption of Rs. 5 lakh,
These all the above are Highlights of the Budget 2011