What is Your Tax Savings for Your Age Post Budget?
By SiliconIndia
But this budget brought out a demise end of bliss what women taxpayers have enjoyed in the past. The previous budget added a new category this year that is Very senior citizen and this year’s budget has removed the female tax payer category. From this budget onwards, all will be taxed upon the basis of their income and age but not on the basis of their gender. From April 1, 2012, this whole scene will come into picture.
If you are a Women below 60 with an
- Annual income of Rs.6 lakh, then you will have to pay a tax of Rs.27,295 post budget which was Rs.28,325 till now, which is only a 3.6 percent decline.
- Annual income of Rs.9 lakh, then you will have to pay a tax of Rs.85,490 which was Rs.86,520, which means tax is cut by 1.2 percent only.
- Annual income of Rs12 lakh, then after the budget your tax came down to Rs.1,53,985 from Rs.1,75,615 that is a decline of 12.3 percent.
- Annual income of Rs.20 lakh, then your payable tax amount is Rs.4,01,185 which was Rs.4,22,815.
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