Exemption Limit for Individual Tax Payers Raised to Rs.1,80,000 - Qualifying age for Senior Citizens Lowered to 60 Years - Senior Citizens above 80 Years to Get Exemption upto Rs. 5,00,000 https://www.taxtmi.com/news?id=1570 Increase in individual income-tax exemption raises the general exemption limit to Rs. 1,80,000, providing uniform relief and aligning rates with the Direct Tax Code. The qualifying age for Senior Citizens is lowered to 60 years with their exemption increased to Rs. 2,50,000, and a Very Senior Citizen category (80 years and above) is created with a higher exemption of Rs. 5,00,000. en-us Mon, 28 Feb 2011 13:50:27 +0530 Mon, 28 Feb 2011 13:50:27 +0530 TaxTMI RSS Generator Exemption Limit for Individual Tax Payers Raised to Rs.1,80,000 - Qualifying age for Senior Citizens Lowered to 60 Years - Senior Citizens above 80 Years to Get Exemption upto Rs. 5,00,000 https://www.taxtmi.com/news?id=1570 Increase in individual income-tax exemption raises the general exemption limit to Rs. 1,80,000, providing uniform relief and aligning rates with the Direct Tax Code. The qualifying age for Senior Citizens is lowered to 60 years with their exemption increased to Rs. 2,50,000, and a Very Senior Citizen category (80 years and above) is created with a higher exemption of Rs. 5,00,000. News - Mon, 28 Feb 2011 13:50:27 +0530 https://www.taxtmi.com/news?id=1570