Budget 2022: Most people feel income tax exemption limit could be raised from Rs 2.5 lakh, says KPMG Survey
Zee News
KPMG survey pointed out that a majority of respondents feel that the Union Budget 2022-23, to be unveiled on February 1, will increase the basic income tax exemption limit from the current Rs 2.5 lakh.
New Delhi: A majority of respondents (64 per cent) feel that the Union Budget 2022-23, to be unveiled on February 1, will increase the basic income tax exemption limit from the current Rs 2.5 lakh, according to a pre-budget survey by KPMG in India.
As many as 36 per cent of the survey respondents felt that the 80-C deduction limit of Rs 1.5 lakh will be increased, while 19 per cent felt that the standard deduction could be increased for salaried class from the current Rs 50,000.
Sixteen per cent of the respondents felt the Budget could provide for tax-free allowances/ perquisites for salaried individuals keeping in mind the work from the home arrangement provision of internet connection, furniture and earphones.
