Benefit of new tax regime for 13L+ salary earners
The ministry has made an impact analysis of the proposed low personal income tax rate regime in the case of salaried people who avail themselves of tax deductions of ₹2 lakh and non-salaried individuals of ₹1.5 lakh, who account for about 92% of the 5.79 crore income tax return filers in the country.
The analysis done shows that the scheme will offer a tax saving of ₹5,200 to a salaried individual earning ₹13 lakh, while a person with ₹14 lakh salary will make a saving of ₹10,400 and anyone with a salaried income of ₹15 lakh and above will save ₹15,600. more
In the new scheme the tax starts from 2.5 L
So loss of 2500 for senior Citizens .
Furthe scrapping exemption limit of 80TTB
,50,000 interest income from FDs for Senior Citizens is another worst decision of FM .
Does it show balanced budget !!
FM should not scrap these two points in the
interest of senior citizens welfare . more