Recently India’s Prime Minister Dr. Manmohan Singh, during his visit to UN, invited business enterprises in UK and USA to invest in India.

The threshold level of income exempt from tax is proposed to be raised from Rs: 50,000 to Rs: 1,00,000. The threshold level for <I>women</I> who have not attained the age of 65 is proposed at Rs: 1,25,000. This replaces the rebate allowable to women u/s 88 – C which now stands eliminated. The threshold level for <I>senior citizens</I> is proposed at Rs: 1,50,000. This replaces the rebate allowable to senior citizens u/s 88 – B which now stands eliminated