The Finance Minister increased the threshold limit from Rs 1,10,000 to Rs 1,50,000 for men and from Rs 1,45,000 for women to Rs 1,80,000.

Also, the tax exemption limit for senior citizens was raised from Rs 1,95,000 to Rs 2,25,000.

These has been no change in the corporate surcharge tax.

Thus, the new tax slabs stand revised as follows:

• No income tax on annual earnings of Rs 1,50,000
• Rs 4,000 minimum relief for all tax assesees
• 10 per cent tax on income between Rs 1,50,001 to Rs 3,00,000
• 20 per cent tax on income between Rs 3,00,001 to Rs 5,00,000
• 30 per cent tax on income over Rs 5,00,000
• No income tax for women with annual income up to Rs 1,80,000
• No income tax for senior citizens with annual income up to Rs 2,25,000