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In view of the income tax slabs announced today, do last year's limits for senior citizens and ladies remain?
Last year the limit for seniors was Rs.2.4 lakhs/and 1.9 lakhs for women. the present limit is 1.6 .Is it for all or is there exemption for seniors and ladies?
4 Answers
- HMTLv 71 decade agoFavourite answer
Individual : 1.6 to 5 L - 10%
Women : 1.9 to 5 L - 10%
Seniors : 2.4 to 5 L - 10%
HMT
- sharma pLv 41 decade ago
The exemption limits have not been increased for all the three types of assessees, individual, women and senior citizens (Rs. 1.60 lakhs, Rs.1.90 lakhs and Rs.2.40 lakhs respectively). However, the tax rates have been changed as under: Upto Rs.5 lakhs, 10%, 5 to 8 lakhs 20% and above 8 lakhs 30%. The savings of Rs.1,00,000/- has been increased by Rs.20,000/- in case of investments made in long-term infrastructure bonds. (total rs.1,20,000/-)
- ranjankarLv 71 decade ago
Yes the limits remain. Only the tax percentage has changed. This is for the next financial year 2010-2011
