Standard Deduction

Budget 2018: From standard deduction to health and education cess, how Arun Jaitley changed your money life

This standard deduction given in budget was in lieu of exemption in respect of transport allowance and reimbursement of miscellaneous medical expenses

Budget 2018: Will Arun Jaitley offer a surprise income tax cut to salaried employees?

In the upcoming budget, the overall exemption limit available to salaried employees under various sections of Income Tax Act needs a re-look to broaden the scope for savings

More tax breaks for middle class likely in Budget as finance ministry mulling hike in exemption limit

In the last Budget, Finance Minister Arun Jaitley left the slabs unchanged but gave marginal relief to small tax payer by reducing the rate from 10 percent to 5 percent for individuals having annual income between Rs 2.5-5 lakh.