Jayanti Mukherjee (name changed), a 72-year-old widow, gets family pension of around Rs 59,000 per month. She earns interest about Rs 10,000 on saving bank account. So, her current gross annual income is Rs 7,18,000 on which she gets deduction u/s 57(iia) of Rs 15,000 available for family pensioners and deduction of Rs 10,000 u/s 80TTB on interest on savings bank account.
So, her taxable salary under old income tax regime is Rs 6,93,000 and her exemption limit is Rs 3 lakh.
