Tax relief may be raised to Rs 3 Lakhs
New Delhi. Good news for salaried people. If everything goes OK, Standing Committee on Finance may increase the tax relief to Rs. 3 Lakhs. Right now, tax slab is Rs. 1.80 lakhs.
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As per the Committee headed by BJP leader Yashwant Sinha, the tax limit should be raised to Rs. 3 lakhs. Direct Tax Code Bill has the provision of Rs. 2 lakhs tax exemption.
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According to the committee, inflation is in double digits, due to which purchasing power has gone down. So, the limit should be increased.
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Last year, Finance Minister Pranab Mukherjee had introduced Direct Tax Code in Lok Sabha. After this, bill was sent to Standing Committee for review.
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Source: http://jaipur.co/tax-relief-may-be-raised-to-rs-3-lakhs/
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