What is Your Tax Savings for Your Age Post Budget?


But this budget brought out a demise end of bliss what women taxpayers have enjoyed in the past. The previous budget added a new category this year that is Very senior citizen and this year’s budget has removed the female tax payer category. From this budget onwards, all will be taxed upon the basis of their income and age but not on the basis of their gender. From April 1, 2012, this whole scene will come into picture.

If you are a Women below 60 with an

- Annual income of 6 lakh, then you will have to pay a tax of 27,295 post budget which was 28,325 till now, which is only a 3.6 percent decline.

- Annual income of 9 lakh, then you will have to pay a tax of 85,490 which was 86,520, which means tax is cut by 1.2 percent only.

- Annual income of Rs12 lakh, then after the budget your tax came down to 1,53,985 from 1,75,615 that is a decline of 12.3 percent.

- Annual income of 20 lakh, then your payable tax amount is 4,01,185 which was 4,22,815.