clarification

[MADHUSOODANAN P]

Sir what is the relaxation amount of income tax? is it Rs.1.80 lakhs per year or above that?

AI Summary

Income Tax Exemption Limits for Assessment Year 2012-13: Rs. 1,80,000 to Rs. 5,00,000 Based on Age and Gender. A user inquired about the income tax exemption limits for the assessment year 2012-13. The response clarified that for men under 60 years, the exemption is up to Rs. 1,80,000, for women under 60 years, it is up to Rs. 1,90,000, for individuals over 60 years, it is up to Rs. 2,50,000, and for those over 80 years, it is up to Rs. 5,00,000.