Some
relief to individual and salary tax payers, Finance Minister Arun
Jaitley presenting Union Budget 2014-15 today in Parliament.
Income Tax exemption limit raised to Rs.2.5 lakh and also raised to Rs 1.5 lakh under Section 80C For Senior Citizen tax exemption limit also increased to 3 lakh.
The
Central Government today hiked the exemption limit for investments by
individuals in financial instruments to Rs 1.5 lakh under section 80C.
And
one more relief to the depositors of Public Provident Fund, the ceiling
limit will raised to Rs.1.5. lakh form current level of Rs.1 lakh.
No change in tax rates
No provision for either DA Merger or IR for Central Govt Employees in this budget
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