Question

As per the Union Budget 2005-2006, the senior citizens have not to pay income tax upto an income of

  1. Rs. 1.00 lakh
  2. Rs. 1.50 lakh
  3. Rs. 1.85 lakh
  4. Rs. 2.00 lakh

Answer:

Option C: Rs. 1.85 lakh

Detailed Solution:

The correct answer is “Rs. 1.85 lakh”.

As per the Union Budget 2005-2006, senior citizens were not required to pay income tax up to an income of Rs. 1.85 lakh (3).