New Amendments in increase of exemption limit for salary

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SENTHIL KUMAR R

SENTHIL KUMAR R (Querist)
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18 May 2010 Can i know any new amendments in individual income tax exemption limits

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 May 2010 Income tax slabs for individual taxpayers to be as follows
Current Proposed
Income upto Rs 1.6 lakh Nil
Income above Rs 1.6 lakh and upto Rs. 5 lakh 10%
Income above Rs.5 lakh and upto Rs. 8 lakh 20%
Income above Rs. 8 lakh 30%

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SENTHIL KUMAR R

SENTHIL KUMAR R (Querist)
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18 May 2010 Thanks for your immediate answer.

And i want to share one thing relates to the above, in the last week i had seen in TV a flash news was showing as salary income tax exemption limit have enhanced to Rs.2 lakhs. That is what i am raising a doubt?
Waiting for your valuable reply

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 May 2010 All rumors.