The tax exemption limit for senior citizens should be Rs.2.50 lacs and Rs,2.00 lacs in respect of women. Interest earned on bank accounts upto Rs.50,000 should be exempt.
RE:tax exemption
by sri nivas on Feb 19, 2007 04:20 PM Permalink
Any thing should not be stagnant in the world as the constant in the world is change. Cost per day to meet common needs is day by day increasing and Employers also realized the fact and proportationtely standard of salaries gone up. According to me there should be revision for tax tariffs also. I could not understand why interest on fixed deposits and NSC certificates is taxable????
On other hand revenue generated on mutual funds is tax free?????????
