IT limit, 80C, Housing deduction rebates raised by 50 thousand each

The Income Tax limit for individuals has been raised by 50 thousand to 2.5 lakh from the current 2 lakhs. Senior citizens limit is raised from 2.5 lakhs to 3.0 lakhs. Savings exemption limit under 80C has been raised to 1.5 lakhs from current 1 lakh. Housing deduction rebate too has been raised similarly by 50 thousand to 2 lakhs from current 1.5 lakhs

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