Can anyone explain the below para written by rediff. I feel it is wrong. Let the author of this article get his calculations correct first, instead of confusing the tax payers.
""This Budget's impact would be most felt by tax assessees who are women, senior citizens or those who have a gross income of about Rs 5 lakh. Illustratively, someone with a taxable income of Rs 3.85 lakh would now pay tax of Rs 35,535, a reduction of about 5.85 per cent in taxes.""
