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Budget 2011 - India
Change in Direct taxes - for the Common man:
Given the present state of inflation, the increase of Rs.20k in the incometax exemption limit would not be justified at all. But so far as the seniors above 60 years are concerned, they would breathe a sigh of relief since the qualifying age has come down to 60 years. I wonder how many citizens over 80 would survive to enjoy the exemption limit of Rs.5 lakh. Anyway atleast for the lucky few who surpass 80 years and are luckier enough to earn more than Rs.5 lakh this would be a welcome change.
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