Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Budget Extravaganza »
Open DEMAT Account in 24 hrs
 All outstanding personal tax demand notices up to Rs 25,000 withdrawn till FY 2014-15 in Budget 2024
 Budget 2024: Why there is an urgent need to hike Section 80C deduction ceiling for income tax benefits
 Budget 2024: Long term capital gains tax and the holding period for different assets explained
 No increase likely in income tax rebate in interim budget: FinMin official
 Income tax expectations for Budget 2024: Focus on medical insurance and capital gains tax
 Whole world looking at India s budget with hope
 Pre-budget expectations for salaried individuals on tax relief Budget 2023
 Centre expected to introduce new income tax slabs in Budget 2023: Report
 Budget 2023: Pre-budget expectations for salaried individuals on tax relief
  Will non-extension of tax benefits for affordable housing impact sales Budget 2022
 Budget 2022 allows 2 more years to file ITR; Know the whopping cost of delay in filing

Increase income tax exemption limit’
January, 31st 2017

Budget 2016 was a disappointment for the common man as the tax slabs were untouched. But this year, especially after the cash crunch following the demonetisation move, it is widely expected that the income tax slabs could be revised. Siraj, a Supply Chain Consultant from Pune, says, “increase the income tax exemption limit from the current ?2.5 lakh to at least ?4 lakh and even more for women.” He also suggests widening the upper ?10-lakh slab limit to ?13-15 lakh and bringing down the slab rate for this category to 25 per cent from the current 30 per cent. According to him, such a move would aid in boosting the consumption in the economy.

Siraj feels that the money outgo in the form of indirect tax like service tax is also one major burden for the common man. “The salaried class is burdened by both direct and indirect tax. The service tax at 15 per cent is very high with all the cess included and any increase in the indirect tax is always passed on to the consumer,” says Siraj. He points out that many start-ups have shut shop over the last one year and feels that the Startup India initiative has not delivered the required benefits though it was launched with much fanfare. “Increasing the income tax rebate for start-ups to much beyond ?2 crore revenue limit may help,” adds Siraj

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting