Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh Deduction up to Rs. 10,000 Proposed for Savings Bank Interest Senior Citizens not Having Income from Business Exempted from Payment of Advance Tax ,

Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh Deduction up to Rs. 10,000 Proposed for Savings Bank Interest Senior Citizens not Having Income from Business Exempted from Payment of Advance Tax , https://www.taxtmi.com/news?id=2877 The budget revises the personal income tax structure by raising the basic exemption threshold and extending the upper limit of the middle tax slab, creating a three-tier marginal rate schedule. It also introduces a deduction for savings bank interest, a deduction for preventive health checkups, and exempts senior citizens without business income from advance tax payment. en-us Fri, 16 Mar 2012 13:13:01 +0530 Fri, 16 Mar 2012 13:13:01 +0530 TaxTMI RSS Generator Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh Deduction up to Rs. 10,000 Proposed for Savings Bank Interest Senior Citizens not Having Income from Business Exempted from Payment of Advance Tax , https://www.taxtmi.com/news?id=2877 The budget revises the personal income tax structure by raising the basic exemption threshold and extending the upper limit of the middle tax slab, creating a three-tier marginal rate schedule. It also introduces a deduction for savings bank interest, a deduction for preventive health checkups, and exempts senior citizens without business income from advance tax payment. News - Fri, 16 Mar 2012 13:13:01 +0530 https://www.taxtmi.com/news?id=2877