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Centre may increase income tax exemption limit
New Delhi, June 13: The Centre may hike the income tax (I-T) slab limit for exemption from Rs 2 lakh to Rs 5 lakh, reports said on Friday.
The finance ministry has sought a report from the I-T department to decide on the possibiliyu of making exemption in he tax slab. A CNN-IBN report said the Central Board of Direct Taxes (CBDT) is likely to submit a report by June 20.
The Centre may hike the I-T slab limit for exemption from Rs 2 lakh to Rs 5 lakh
The government could also raise the tax exemption limit on home loans and health insurance premium. the report said. The health insurance premium could be raised by Rs 5,000.
'Govt
trying
to
ensure
life
of
dignity
for
old
and
disabled
pensioners'
The
government
is
also
thinking
of
providing
delivery
of
pension
funds
of
old
and
disabled
retired
employees
at
their
doorsteps
besides
ensuring
that
pension
payment
order
is
handed
over
on
the
day
the
employee
retires.
Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh said the Pension and Pensioner's Welfare department is trying to ensure that the pensioners lead a life of dignity.
Oneindia News
