PERSONAL TAXATION : Budget 2016-17
* No change in basic
exemption limit
* No change in tax
rates
* Rebate of Income Tax
under section 87A increased from Rs.2000 to Rs.5000 for individuals with total income
not exceeding Rs.5 Lakh
* Rent paid under section 80GG
increased from Rs.2,000 per month to Rs.5,000 per month (Yearly Rs. 24,000 to Rs. 60,000)
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