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Income tax may be exempt up to Rs. 3 lakh
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    Income Tax has been exempted only up to Rs. two lakh as against expectation of three lakh. There is additional tax concession for interest income also.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    I was expecting it to be raised to that but the FM is not very specific on implementation of DTC!
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    I was expecting it to be raised to that but the FM is not very specific on implementation of DTC!


    He has hinted that revision of tax slabs is in direction of DTC. But he has not given effective date when this will replace Income Tax Act.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    It has been shelved too many times. I have yet to make a serious study of the Finance Bill.
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    Probably they are keeping all the good things for the next year, just before getting into the election year.

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    I also expected it at 3 lakhs.This 20000 increment gives no relief at all.
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