What the Arun Jetly will bring ‘Acche Din’ in their first budget for the salaried class.?
The salaried class has a lot of expectation from the first budget of finance minister Arun Jetly. The Indian Chartered Accountant of India (ICAI) has recommended that the tax should be tax-free on the income up to 3 Lakhs. The tax should be raised to Rs 3 lakh from 2.5 lakh. And the ICAI has also recommended that tax should be 10 percent of the income of the 3 lakh to 10 lakh. The present scenario of income tax is 10 percent on 2.5 lakh to 5 lakh.
“Former FM P Chidambaram discontinued this standard deduction with effect from April 1, 2006. It’ll be good news for the salaried class if restored in Budget 2015-16,” said Chartered Accountant Abhishek Aneja.
The one positive decision will give a major relief to the persons who have salary income up to three lakh. The Housing loan, Car loan and some other funds or investments will relief the one. The finance minister may give some benefits to reintroduce the deduction for the investment in the mutual funds and other investments in the infrastructure sector. The budget may improve the overall economic condition of the country.
Source: http://www.firstpost.com/blogs/business-blogs/budget-2015-will-mr-jaitley-bring-achche-din-salaried-class-2125099.html
