- Lower limit increased from 1.6 Lakh to 1.8 Lakh (Amounting to Rs. 2000/- tax benefit).
- No difference in lower limit for women employees(Last year limit of 1.9 Lakh continues).
- Additional Rs.20000 will be tax free for investment in Infrastructure bonds.
-Salaried individuals will be exemted from submitting returns.
- Simplified return form 'Sugam' for small scale tax payers.
- Senor Citizen slabs increased to 2.5 Lakhs.
- Senor Citizen age reduced to 60 .
- Very Senor Citizen category added (80 and above) with Tax free limit of 5 lakhs
See also: