what is the exemption limit for current financail year (2007-2008) ? is it
1 lakh or 1.1L ?
what is the max limit for donating money to trusts/NGOs to avail deduction benefit ?
thanks
josh
Menu
tax exemption limit
Replies (4)
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).
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
Recent Topics :
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
Related Topics :
CAclubindia
