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What is the 2010 tax exemption limit?

But i heard that for women's Tax Exemption limit is?

  • but i heard that for women's Tax Exemption limit is Rs1,50,000 for A.Y 2007-08 so if my income for Yr2007-08 is 1,45,000p.a. i guess i am tax exempt??????

  • Answer:

    No. The taxable income exemption limit for women is 1,35,000. You are subject to tax for the rest 15K, you can save that too by investing it under any of the categories mentioned in section 80C of the income tax act.

mehwisha... at Yahoo! Answers Visit the source

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Exemption limit for women (less than 65 years) : for AY 2007-08 is 1.35 Lakhs for AY 2008-2009 its 1.45 lakhs !!

DeepakB

I agree with michal. He is hundred percent correct. I would suggest you to invest Rs. 15000 in ELSS of Mutual Funds. They give you triple benifits. Exemption of Investment, Tax free dividends and Expmtion of Long Term Capital Gains.

Bhavesh Patel

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