What is the current income tax exemption limit ?
Ans: 1.8 lac
Previous income tax exemption limit was 1.6 lac .It was increased to 1.8 lac in 2011 Budget
Other Changes in income tax exemption
Income tax Exemption for women - 1.9 lac
Income tax Exemption for Senior citizen age limit(60-80)- 2.5 lac
Income tax Exemption for Senior citizen age limit(above 80) - 5 lac
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