Budget 2024: The salaried need a budget boost, some amendments will help

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Times of India 2w ago

Budget 2024: The salaried need a budget boost, some amendments will help - Times of India

Quick Summary:

India Business News: MUMBAI: Till the financial year 2022-23, a standard deduction of Rs 50,000 was available to the salaried only under the old tax regime.

For such employees having a salary of more than Rs 20 lakhs, the standard deduction limit should be increased to Rs three lakh,” is Bhuta’s suggestion.

Restricting the deduction to only up to Rs 50,000/- is unequitable and unfair towards the salaried employees.” “There are various expenses incurred by salaried employees like conveyance and upskilling.