tax exemption limit

Tax exemption limit in F.Y.2007-08 is 1,10,000.

Tax Exemption Limit for F.Y. 2007 - 08 is: For Individual Rs. 1.1 Lacs For Woman Rs. 1.45 Lacs For Senior Citizen Rs. 1.85 Lacs For Benefit of Sec 80 G i.e. Donation it is to be determined in accordance with Gross Total Income* 10% or 50% or 100% of Donation depending upon the Exemption granted to the TRUST.

Exemption limit for A.Y 2008-09 is:

Rs.1,10,000.00 for individuals, HUF's,AOP,BOI

Rs.1,45,000.00 for resident women assessees

Rs.1,95,000.00 for senior citizens(People who have attained the age of 65 during any time of the previous year).

110000 for individual.Different for female/Sr citizen