Today’s good news for taxpayers, who wants to save their money not easing to tax, is that the Parliamentary standing committee on finance in line with the DTC Bill this budget recommends hiking basic tax exemption limit from Rs 1.8 lakh to Rs 3 lakh and another Rs 3.20 lakh rebate for eligible investments and spending.
However while these recommendations will approve by govt., then taxpayers would pay tax on upto Rs 6.20 lakh as against a maximum of Rs 4.85 lakh including the rebate for housing loans. Read more
