Posted July 7, 2009 - 11:00 by isohelpline
Individuals:
- Men: Exemption limit increased from Rs. 1,50,000 to 1,60,000
- Women: Exemption limit increased from Rs. 1,80,000 to 1,90,000
- Senior Citizen: Exemption limit increased from Rs. 2,25,000 to 2,40,000
- 10% surcharge applicable above income of 10 lac also removed.
- Wealth tax now payable above taxable wealth over Rs. 30 Lac instead of 15 lac.
- Advance tax to be paid only if tax liability is over rs. 10,000 instead of 5,000 earlier.
