Income Tax exemption limit raised to Rs.2.5 lakh and under Section 80C limit raised to Rs 1.5 lakh.

Income Tax exemption limit raised to Rs.2.5 lakh and under Section 80C limit raised to Rs 1.5 lakh.

Finance Minister Arun Jaitley presenting Union Budget 2014-15 in Parliament, raised individual tax exemption limit to Rs.2.5 lakh from current Rs. 2.0 lakh.

For Senior Citizen tax exemption limit also increased to 3 lakh.

The Central Government today hiked the exemption limit for investments by individuals in financial instruments to Rs 1.5 lakh under section 80C.
Housing Loan Rebate is raised from Rs 1.5 lakh to 2.0 lakh.

And one more relief to the depositors of Public Provident Fund, the ceiling limit will raised to Rs. 1.5. lakh form current level of Rs. 1.0 lakh.