Union Budget 2023: Salaried People Seek Tax Relief Ahead Of 2024 Polls
NDTV
Will salaried people in India get some respite on income tax? That's the million-dollar question before every Union Budget.
Will salaried people in India get some respite on income tax? That's the million-dollar question before every Union Budget.
The last Union Budget did not give relief to the middle class as the government did not announce any change in tax slab or new deductions.
In the run-up to this year's Budget, there is a strong buzz that the government may put more disposable income in the hands of the middle class by providing significant relief on income tax.
"With increasing costs of living and rising interest rates on loans, a relaxation in the income tax rates would help restore the purchasing power of individuals," hopes Alpa Shah, a social entrepreneur and finance professional from Mumbai. She adds that the Budget must increase the standard deduction limit from Rs 50,000 to Rs 1 lakh.
