Multiple choice

Up to what limit the annual income is exempted from tax for general tax payers for the current assessment year 2012 - 2013 in India?

  1. Rs. 2, 00,000

  2. Rs. 2, 50,000

  3. Rs. 5, 00,000

  4. Rs. 4, 00,000
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

It is Rs. 2, 00,000. The annual income till Rs. 2, 00,000 is exempted from tax for the general tax payer, i.e. up to income of Rs. 2, 00,000, no tax is to be paid for the current assessment year 2012 - 2013.

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