We present an efficient method for addressing online the inversion of differential task kinematics for redundant manipulators, in the presence of hard limits on joint space motion that can never be violated. The proposed SNS (Saturation in the Null Space) algorithm proceeds by successively discarding the use of joints that would exceed their motion bounds when using the minimum norm solution. When processing multiple tasks with priority, the SNS method realizes a preemptive strategy by preserving the correct order of priority in spite of the presence of saturations. In the single- and multi-task case, the algorithm automatically integrates a least possible task scaling procedure, when an original task is found to be unfeasible. The optimality properties of the SNS algorithm are analyzed by considering an associated Quadratic Programming problem. Its solution leads to a variant of the algorithm, which guarantees optimality also when the basic SNS algorithm does not. Numerically efficient versions of these algorithms are proposed. Their performance allows real-time control of robots executing many prioritized tasks with a large number of hard bounds. Experimental results are reported.