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    How to claim exemption up to Rs.4,44,200 from your income?

    During his Budget speech, Finance Minister Arun Jaitley said an individual tax payer can claim exemption for up to Rs.4,44,200 from his income.

    Here is how you get there:

    Current exemption                                             -       Rs.2.50 lakh

    Exemption under tax saving schemes               -        Rs.1.50 lakh

    Exemption with new transportation                  -        Rs.19,200 per year
     allowance of Rs.1,600 per month

    New deductible health insurance premium       -        Rs.25,000

    Total                                                                  -        Rs.4,44,200

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