UNSTARRED QUESTION NO-174
IT exemption limit for working women
174 . Smt. Wansuk Syiem
(a) whether Government proposes to raise the IT exemption limit for working women as an incentive for saving and economic security;
(b) whether there is also a proposal to reduce the age for tax exemption for senior citizens to 60 years from the present 65 years; and
(c) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF FINANCE: (SHRIMATI NIRMALA SITHARAMAN)
(b) The age for providing higher basic limit of exemption to senior citizens under the Income –tax Act, 1961 is already 60 years.
(c) Nil, in view of (a) and (b) above.
N.B.: This article was uploaded on 21.07.204 on RS Website, the question was scheduled to be answer on 08.07.2014.
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