No major Income Tax benefits, but some sops
01 Feb 2018
The salaried class will be disappointed that there are no major takeaways in the Union Budget 2018 with finance minister Arun Jaitley keeping Income Tax slabs unchanged. While there is also no major relief for the salaried class, there are a few sops for the common man:
- Exemptions for senior citizens on income of up to Rs10,000 from bank fixed deposits and post office savings
- Senior citizens to get Rs50,000 per annum exemption for medical insurance under Section 80D
- Income Tax standard deduction for all at Rs40,000
- Biggest healthcare scheme 'Ayushman Bharat' announced covering 10 crore poor households