Tag: Budget 2013

Budget 2013: Tax amendments you can expect in rent allowance, LTA & gift tax

| February 20, 2013 | Reply

Rebate for Senior Citizens The exemption limit for senior citizens over 80 years of age is Rs 5 lakh p.a., which when compared to other taxpayers sounds reasonable. However, in case of an income of more than the specified amount, they are required pay¬†income tax¬†@ 20% on income up to Rs 10 lakhs. Hence, the […]

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