new delhi finance minister pranab mukherjee on monday proposed to increase the income tax exemption limit for senior citizens by rs 15000 for women and others by rs 10000 each while keeping the corporate tax rate unchanged watch the exemption limit will now be rs 240000 for senior citizens rs 190000 for women and rs 160000 for others the 10 surcharge on personal income tax has also been slashedfor women the exemption limit has been raised to 190000 and for others the exemtion limit has been raised by rs 10000 to 160000he has also gone ahead and abolshed the fringe benefit tax the budget has also abolished the commodities transaction tax