A poor budget for the salaried class: no change in income tax rates or slabs, marginal relief from standard deduction but a higher cess
3 min read2 Feb 2018Benefits for the salaried under the proposed Rs40,000 standard deduction will be neutralized by inclusion of transport and medical allowances and 1% hike in health and education cess
1 min read1 Feb 2018Arun Jaitley proposed a standard deduction of Rs40,000 in Budget 2018 in lieu of transport allowance and medical reimbursement entailing a revenue sacrifice of Rs8,000 crore
2 min read1 Feb 2018An employee can claim the reimbursement not only for medical expenses incurred for herself but also for spouse, and dependent children and parents
2 min read14 Jun 2016The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared