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What are the new threshold limits put in the parliment
under New tax code recently for Men, Women and Senior
Citizens
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Answer Posted / shirisha
PRESENTLY WE HAVE A TAX EXEMPTIONS FOR MEN IS 1,60,000 AND
WOMEN IS 1,90,000 AND FOR SENIOR CITIZENS 2,40,000. NOW IN
THE PARLIMENT THEY HAVE PASSED THE BILL TO INCREASE THE
EXEMPTIONS RATES FOR THEM. NEW TAX CODE RATES FOR MEN IS
2,00,000 AND FOR WOMEN 2,50,000 AND FOR SENIOR CITIZENS
TOO.THIS RATES WILL BE EFFECTED FROM NEXT ASSESSMENT YEAR
2011 -2012.
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