The Centre has also proposed to exclude the value of rent-free housing and medical benefits while computing the taxable gross salary under the new direct tax code.Good news for salaried people!
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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.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
Have they reintroduced standard deduction. If that is there than it is indeed a good news otherwise it just compensation for removing standard deduction.
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