Rent-free Housing and Medical Benefits to be Excluded from Taxable Gross Salary

Yes. This is very good news. However, I understand. medical reimbursement was already tax free. Now, fixed medical allowance will also be tax free. So, far, there was some exemption regarding residential accommodation. Now, this is fully exempt. Definitely good news for salaried.

Thanks Gulshan,let us wait for the final one that is when it is turned into an act.

Have they reintroduced standard deduction. If that is there than it is indeed a good news otherwise it just compensation for removing standard deduction.