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24 Feb, 2015 08:31 PM

Budget 2015: FM may dole out tax sops to win over middle class

Budget 2015: FM may dole out tax sops to win over middle class
After the Delhi poll loss, Finance Minister Arun Jaitley on February 28 is expected to please the common man especially middle class by either raising tax slabs or hiking investment limit in savings instruments. 

Jaitley, his maiden Budget last year, had raised the personal Income Tax exemption limit by Rs 50,000 to Rs 2.50 lakh and also raised by same amount the exemption from payment of I-T on savings to Rs 1.50 lakh. The tax exemption limit on repayment of housing loans was hiked to Rs 2 lakh from Rs 1.5 lakh. 

However, this time around Jaitley, according to experts, may choose only one of them as he looks at additional revenue to boost public spending and push economy to high growth path. 

He may also look to raise the tax exempted investment limit in health insurance as well as well as exempt savings in pension schemes at all three stages -- entry, accrual and withdrawal. 

Another option before the Finance Minister is to expand the scope of Leave Travel Allowance (LTA) and allow people to claim tax benefit every year. 



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