Standard I-T deduction could rise by 30-35%, tweak in slabs unlikely
The government is mulling an increase in the standard deduction limit available to salaried taxpayers and pensioners by 30-35% in the upcoming budget while income tax slabs are likely to remain unchanged given the limited fiscal headroom, officials said. At present, Rs 50,000 standard deduction is allowed to these categories of taxpayers. Industry bodies have … Read more