tuntun (MBA) (24 Points)
12 February 2013
Hi Folks ,
please advise ,what is the Income tax limit for senior citizen for calculating income tax for the year 2011-2012
(assesment year 2012 -2013 for senoir citizen).
Please Reply ASAP.
Thanks
SG.YD
(Accountant)
(24 Points)
Replied 12 February 2013
For the Financial Year 2011-2012 (A.Y. -2012-13), the limit of Income exempt from tax for senior citizen (age 60 or above) was Rs. 2,50,000.
For Super Senior Citizen (age 80 and above) it was INR 5,00,000.
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