There is some marginal relief for salaried individuals. The income tax basic exemption limit has been upped.

Measure: Basic exemption limit increased by Rs 10,000
The new tax slabs now stand as follows:
Male taxpayers
0 to 160000   0
160001 to 300000  10%
300001 to 500000 20%
Above 500000  30%
Female taxpayers
0 to 190000   0
190001 to 300000  10%
300001 to 500000 20%
Above 500000  30%

Impact: You save taxes! Here's is how much tax you would save

Measure: Surcharge of 10 per cent on taxable income over Rs 10 lakh done away with
Impact: Lower tax payable for those earning taxable income over Rs 10 lakh

Measure: Proposes Saral 2 form to simplify tax payment
Impact: You can now look forward to simpler process while filing your tax returns

Measure: Fringe Benefits Tax (FBT) has been abolished
Impact: If your company has been passing on the burden of FBT on the perquisites it pays to you, then you can rest assured, they won't do it anymore!

Measure: Limit for deduction under section 80DD increased from Rs 75,000 to Rs 1 lakh
Impact: For those who have disabled dependents, this proposal provides additional tax sops

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