- A new revised income tax return form 'Sugam' to be introduced for small tax-papers
- Exemption Limit for Individuals raised from Rs.160,000 to Rs.180,000 for individual tax payers
- For senior citizens, the qualifying age reduced from earlier 65 years to 60 years
- For senior citizens, the Basic Exemption Limit raised to Rs.250,000
- New Category of tax-payers “Very Senior Citizens” created consisting of Citizens having age of 80 years and above
- Basic Exemption Limit for Very Senior Citizens at Rs.500,000
- Surcharge on Domestic Companies reduced to 5% from 7.5%
- Minimum Alternate Tax raised to 18.5% from 18%
Monday, February 28, 2011
Union Budget 2011-12 Highlights: Direct Taxation
Tags
# Budget 2011
# Budget 2011 Features
# Budget 2011 Highlights
# Budget 2011-12
# Budget 2011-12 Highlights
# Budget Direct Tax Provisions
# Union Budget 2011
# Union Budget 2011-12
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