Salaried women to get higher income tax exemption in the Budget 2014
Sahara Samay News
Moreover, a proposal to reduce the age for tax exemption for senior citizens to 60 years from 65 years is also under consideration.
EXISTING TAX STRUCTURE
Income of less than Rs. 2 lakh a year are exempt from paying taxes.
Earning between Rs. 2 lakh and Rs. 5 lakh annually are taxed at 10%,
Between Rs. 5 lakh and Rs. 10 lakh at 20%
Earning more than Rs. 10 lakh pays a tax of 30%.
Source: Sahara Samay News
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