Mukherjee announces new tax concession to ‘Aam Admi’

February 28th, 2011 - 3:12 pm ICT by ANI  

Pranab Mukherjee New Delhi, Feb 28 (ANI): Union Finance Minister Pranab Mukherjee on Monday raised the income tax exemption limit for individuals from one lakh 60 thousand to one lakh 80 thousand rupees.

The age of senior citizens for tax benefits has been brought down from 65 to 60 years and the exemption limit raised for them from two lakh 40 thousand to two lakh 50 thousand rupees.

The exemption limit for a new category of very senior citizens over the age of 80 and above will be Rs five lakh.

He proposed Rs 300 crore to modernise stamp and registration in states and announced a relaxation in e-filing norms for small taxpayers.

The workers in hazardous industries, such as mining and slate, will get health benefits and Rs 5,000 crore has been announced for the National Skill Dev Council. (ANI)

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