Salary earners with income up to Rs 5 lakh need not file returns.

INCOME TAX    For Salaried Class: Income Tax exemption limit for individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000. Senior Citizen from 2.4 Lakhs to 2.5 Lakhs. Qualifying age for senior citizens lowered to 60 from 65; Senior citizen above 80 year to get Rs.5,00,000 IT exemption Salary earners with income up to Rs 5 [...]

March 1, 2011  Tags: ,   Posted in: I Tax  10 Comments

Pranab gives some relier to tax payers, senior citizens

Income Tax    Pranab gives some relier to tax payers, senior citizens New Delhi, Feb 28 (PTI) In some relief to general tax payers, Finance Minister Pranab Mukherjee today enhanced the tax exemption limit by Rs 20,000 to Rs 1.80 lakh, gave additional benefits to senior citizens but excluded women from additional sops. While proposing [...]

February 28, 2011  Tags: , ,   Posted in: I Tax  One Comment