Monday, July 6, 2009

changes in Personal Tax for individual in the budget

Income tax exempetion limit for
1) senior citizen Income tax limit increased by Rs 15,000 to 2,40,000
2) Women Income tax limit increased by Rs 10,000 to Rs 1,90,000
3) Individaul income tax limit increased by Rs 10,000 to Rs 1,60,000

10% surcharge on income tax of above Rs 10 laksh has also been abolished
The much hated FBT or fringe benefit tax has also been abolished.

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