Tax Exemption Limits : Banknet India


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Name :	Avinash
Subject:	Tax Exemption Limits
Message :	Income of senior citizens (including interest income) is exempt from tax upto a limit of Rs.1,95,000/- as compared to the normal limit of Rs.1,10,000/- in the case of any other man taxpayer and Rs.1,45,000/- in the case of any other woman taxpayer. No change in the existing dispensation is contemplated at present. This is applicable for the returns to be filed for the income during the period 1st April 2007 to 31st March 2008