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Union Budget
Very Senior Citizens get bonanza on tax relief, no change for women
Posted On : 2011-02-28 20:50:37( TIMEZONE : IST )
In the proposals announced in budget 2011-2012, Shri Pranab Mukherjee increased the exemption limit for very senior citizens to Rs.500000. Citizens aged 80 and above are categorized as very senior citizens.
| Individual Tax Payer's Income | Tax Rate |
| Upto Rs.1,80,000 | No Tax |
| Rs.1,80,001 to Rs.5,00,000 | 10% |
| Rs.5,00,001 to Rs.8,00,000 | 20% |
| Rs.8,00,001 and above | 30% |
| Women | |
| Upto Rs.1,90,000 | No Tax |
| Rs.1,90,001 to Rs.5,00,000 | 10% |
| Rs.5,00,001 to Rs.8,00,000 | 20% |
| Rs.8,00,001 and above | 30% |
| Senior Citizens (Aged from 60 till 80) | |
| Upto Rs.2,50,000 | No Tax |
| Rs.2,50,001 to Rs.5,00,000 | 10% |
| Rs.5,00,001 to Rs.8,00,000 | 20% |
| Rs.8,00,001 and above | 30% |
| Very Senior Citizens (Aged 80 and above) | |
| Upto Rs.5,00,000 | No Tax |
| Rs.5,00,001 to Rs.8,00,000 | 20% |
| Rs.8,00,001 and above | 30% |