Professional Answers on Investments
Insurance, Mutual Funds, Sensex, Nifty, Financial Planning
Below Rs. 100000/- in general
Females – 1.35 lacs
Males – 1.1 lacs
I think it is below 1 lacs
For which country are you asking for ?
If it’s for “resurgent India”, the following is the limit for year up to March’08 , after which Tax will be payable:-
Male : Rs.1,10,000
Female: … 1,45,000
(Pl note : This slab is expected to increase and the rate is expected to be reduced as the good citizens and Cos have filled the Govt. Exchequer with huge amount of tax in ’07. The more we are honest to pay tax, the more this will happen)
The Tax limits for the financial year 2007-08 (from 1.4.07 to 31.3.08) are as follows.
1. HUF _________________ Rs.1,10,000
2. Male <65 years ________ Rs. 1,10,000
3. Female <65 years ______ Rs.1,45,000
4. Seniour Citizen (>65 y) __ Rs.1,95,000
Tax deduction up to 1 lakh u/s 80c for all the above four categories (Like LIC, PPF, NSC Etc.,)
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