medical expenses

Raise the bar: The slab of tax free income has not moved up in line with the real inflation. The current basic exemption limit of Rs 1,60,000 should be increased to Rs 3,00,000. This will increase the purchasing power of individuals and stimulate demand. Full Article

Corporate India is not the sole critic of the Direct Taxes Code. The code, precursor to a brand new income tax law, has found opposition from within government, too. An internal committee of the Central Board of Direct Taxes, the principal policy-maker in the domain, has called for a thorough review of the code, including a revision of the income tax slabs and the definition of 'income from salaries'. Full Article