Multiple choice general knowledge

according to FY 2010-11 0% tax rate upto(for senior citizen)

  1. 1.5 lakh

  2. 1.9 lakh

  3. 2.4 lakh

  4. 2.6 lakh

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For FY 2010-11, the basic exemption limit for senior citizens (above 60 years) was Rs. 2.4 lakh. Income up to this limit was exempt from tax. This was higher than the general exemption limit of Rs. 1.6 lakh for non-senior citizens. The very senior citizen category (80+) had an even higher limit.