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Senior citizen’s income tax exemption limit increased by Rs.15,000

New Delhi, July 6 (ANI): Finance Minister Pranab Mukherjee on Monday proposed an increase in the personal income tax exemption limits by Rs. 15,000 for senior citizens from Rs. 2.25 lakh to Rs.2.40 lakh.

Further, he proposed to raised the exemption limits by Rs.10,000 from Rs.1.80 lakh to Rs.1.90 lakh for women taxpayers and from [...]

Tax structure to be simplified: Mukherjee

New Delhi, July 6 (IANS) The government will work towards simplifying the tax structure in the next four years, Finance Minister Pranab Mukherjee said while presenting the union budget for 2009-10 in the Lok Sabha Monday.
The income tax department has also been asked to introduce the simplified version of the tax filing form Saral, called [...]