{"id":4174,"date":"2024-03-05T16:02:09","date_gmt":"2024-03-05T16:02:09","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=4174"},"modified":"2024-03-05T16:02:09","modified_gmt":"2024-03-05T16:02:09","slug":"as-per-the-union-budget-2005-2006-the-senior-citizens-have-not-to-pay-income-tax-up-to-an-income-of","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/as-per-the-union-budget-2005-2006-the-senior-citizens-have-not-to-pay-income-tax-up-to-an-income-of\/","title":{"rendered":"As per the Union Budget 2005-2006, the senior citizens have not- to pay income tax up to an income of"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9706feb3d2b\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Rs. 1.00 lakh                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Rs. 1.50 lakh                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"true\">\r\n                    Rs. 1.85 lakh                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Rs. 2.00 lakh                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is (c) Rs. 1.85 lakh.<\/p>\n<p>As per the Union Budget 2005-2006, the senior citizens have not to pay income tax up to an income of Rs. <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> 1.85 lakh. This exemption was increased from Rs. 1.00 lakh in the previous budget. The exemption is available to senior citizens who are 60 years of age or above on 31st March of the assessment year.<\/p>\n<p>The exemption is available for both earned and unearned income. However, there are certain conditions that need to be met in order to avail the exemption. For example, the senior citizen must be a resident of India for the entire assessment year. The exemption is also not available for income from certain sources, such as income from house property and capital gains.<\/p>\n<p>The exemption for senior citizens is a tax relief measure that is aimed at providing relief <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> to the elderly. The exemption helps to reduce the tax burden on senior citizens and allows them to save more for their retirement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[203],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>As per the Union Budget 2005-2006, the senior citizens have not- to pay income tax up to an income of<\/title>\n<meta name=\"description\" content=\"As per the Union Budget 2005-2006, the senior citizens have not to pay income tax up to an income of Rs. 1.85 lakh. This exemption was increased from Rs. 1.00 lakh in the previous budget. 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This exemption was increased from Rs. 1.00 lakh in the previous budget. The exemption is available to senior citizens who are 60 years of age or above on 31st March of the assessment year.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/as-per-the-union-budget-2005-2006-the-senior-citizens-have-not-to-pay-income-tax-up-to-an-income-of\/","og_locale":"en_US","og_type":"article","og_title":"As per the Union Budget 2005-2006, the senior citizens have not- to pay income tax up to an income of","og_description":"As per the Union Budget 2005-2006, the senior citizens have not to pay income tax up to an income of Rs. 1.85 lakh. This exemption was increased from Rs. 1.00 lakh in the previous budget. The exemption is available to senior citizens who are 60 years of age or above on 31st March of the assessment year.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/as-per-the-union-budget-2005-2006-the-senior-citizens-have-not-to-pay-income-tax-up-to-an-income-of\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-03-05T16:02:09+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/as-per-the-union-budget-2005-2006-the-senior-citizens-have-not-to-pay-income-tax-up-to-an-income-of\/","url":"https:\/\/exam.pscnotes.com\/mcq\/as-per-the-union-budget-2005-2006-the-senior-citizens-have-not-to-pay-income-tax-up-to-an-income-of\/","name":"As per the Union Budget 2005-2006, the senior citizens have not- to pay income tax up to an income of","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-03-05T16:02:09+00:00","dateModified":"2024-03-05T16:02:09+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"description":"As per the Union Budget 2005-2006, the senior citizens have not to pay income tax up to an income of Rs. 1.85 lakh. 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