Sensation; IT Exemption to Raise Rs.5 Lakhs

If the latest reports from New Delhi are to be believed the Income Tax slab limit of existing Rs.2 lakhs will get increased to Rs.5 lakhs. The Central Board of Direct Taxes( CBTD) was sought a report on this by the Finance Ministry. The central government is also planning to raise tax exemption limit on health insurance premium and home loans. In fact, the BJP made a promise of rasing tax exemption to Rs. 3.5 lakhs during 2009 elections. When it comes to the manifesto of 2014 elections the party mentioned no word about tax exemption. But this sudden move of the NDA government on tax exemption will surely bring laurels to the salaried and businessmen.