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Category: Finance & Money Matters
#28436
We always discuss the same issue on the eve of budget. And every time, as a part of salaried class, my response is same.
I expect a marginal increase in the limit of Section 80C of IT Act (the present limit is Rs. 1.50 lakh annually). Nothing more.
"Tera chehra kitna suhana lagta hain; Tere aage chand purana lagta hain"--Kaif Bhopali
I expect a marginal increase in the limit of Section 80C of IT Act (the present limit is Rs. 1.50 lakh annually). Nothing more.
"Tera chehra kitna suhana lagta hain; Tere aage chand purana lagta hain"--Kaif Bhopali
#28441
Some people are hoping that the standard deduction may be raised this time helping the salaried class.
#28443
Most respectfully I would like to inform Neeru Bhatt Madam (#28441) that in the new tax regime, there is no concept of Standard Deduction. It existed in the old tax regime.
"Tera chehra kitna suhana lagta hain; Tere aage chand purana lagta hain"--Kaif Bhopali
"Tera chehra kitna suhana lagta hain; Tere aage chand purana lagta hain"--Kaif Bhopali
#28444
Partha, you are right but some people are still filing the return in old regime option and for them it would be applicable. Of course the number of such people would be small.
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