Union Budget 2009 | Income tax exemption limit increased

Finance Minister Pranab Mukherjee Monday proposed to increase the income tax exemption limit for senior citizens by Rs.15,000, for women and others by Rs.10,000 each, while keeping the corporate tax rate unchanged.

The exemption limit will now be Rs.240,000 for senior citizens, Rs.190,000 for women and Rs.160,000 for others.