Need A Financial Product › Forums › Union Budget 2014-15 – What’s in for individual employees › Reply To: Union Budget 2014-15 – What’s in for individual employees
July 10, 2014 at 11:37 pm
#45615
Sameer Kapoor
Participant
Personal Income-tax exemption limit raised by Rs. 50,000/- that is, from Rs 2 lakh to Rs2.5 lakh in the case of individual taxpayers, below the age of 60 years.
Exemption limit raised from Rs 2.5 lakh to Rs 3 lakh in the case of senior citizens.
No change in the rate of surcharge either for the corporates or the individuals, HUFs, firms etc.
Deduction limit on account of interest on loan in respect of self occupied house property raised from Rs 1.5 lakh to Rs.2 lakh.