1) Union Budget 2011: Income Tax limit raised to Rs 1.8 lakh
2) Senior citizens
Unveiling the Budget proposals for 2011-12 in the Lok Sabha, he also proposed to reduce the age limit for consideration as senior citizens from 65 years to 60 years.
Senior citizens will get tax exemption for income up to Rs 2.5 lakh, higher from Rs 2.4 lakh now.
As per the announcement, the increase in the income tax exemption limit for general tax payers (excluding women and senior citizens) to Rs 1.8 lakh per annum would translate into a benefit of Rs 2,000 for all tax payers.
3) Very Senior citizens
Marginally widening tax slabs for individuals, introducing higher basic slabs for very senior citizens, aged 80 years and above.
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