Thursday, February 3, 2011

Govt may hike Income Tax exemption limit

New Delhi, Feb 1 (PTI) Tax payers can expect some relief from high inflation in Budget 2011-12 as the government may raise the income tax exemption limit for individuals.
"Finance Minister Pranab Mukherjee is alive to the price situation and its impact on the common man," sources said, adding he would favourably consider the issue of hiking tax exemption limit.

Moreover, they said, as the government is committed to raise the income tax exemption limit from Rs 1.6 lakh per annum to Rs 2 lakh in line with the Direct Taxes Code (DTC) in 2012-13, tax payers could expect at least some relief in the upcoming Budget on February 28.
"The finance ministry would keep in mind the high inflation in the Budget. Since there is no dearness allowance for a vast section of the society, hike in income tax exemption limit is likely," a source told PTI.

No comments :

Contact Us

Viewers may share any information with the administrator in this email shyamali00@gmail.com
Any news, if approved, may be published in this blog under his /her name.

.................RECENT HEADLINES

Related Posts with Thumbnails

Blog Archive

Bookmark This Page

Bookmark and Share
All the information published in this webpage is submitted by users or free to download on the internet. I make no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this page and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. All the other pages you visit through the hyper links may have different privacy policies. If anybody feels that his/her data has been illegally put in this webpage, or if you are the rightful owner of any material and want it removed please email me at "shyamali00@gmail.com" and I will remove it immediately on demand. All the other standard disclaimers also apply.