The hike in IT exemption limit from Rs 1.8 lakh to Rs 2 lakh saves men Rs 2,060 in annual taxes, but women gain only Rs 1,030 since they had a higher limit of Rs 1.9 lakh. Senior citizens gain nothing since they were even now not paying tax below Rs 2.5 lakh a year. The shift in slabs with 30% kicking in at Rs 10 lakh, not Rs 8 lakh, means those between these two limits save anything from Rs 2,060 to Rs 22,660 per annum (or Rs 1,030 to 21,630 for women), while those with annual incomes above Rs 10 lakh save Rs 22,660 (or Rs 21,630), irrespective of their income. For senior citizens, savings are at best Rs 20,600.
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