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Budget 2016: Expect an increase in income tax exemption limit

Among other expectations, finance minister may choose to increase the income tax exemption limit by Rs 50000.
DTC Bill may slap 35% new tax on super rich: Sources

The cabinet is all set to consider the revised direct tax code (DTC) Bill soon. No change is likely in the tax exemption limit, but the bill proposes a new 35 percent tax slab for people with income exceeding Rs 10 crore per annum.
Budget Reactions: Tax payers above Rs 8 lakh slab to benefit most, says PwC

Raising of exemption limit from Rs 1.8 lacs to Rs 2 lacs and introduction of deduction of saving bank interest upto Rs 10,000 will benefit everyone,

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Tax Exemption Limit

Budget 2016: Expect an increase in income tax exemption limit

DTC Bill may slap 35% new tax on super rich: Sources

Budget Reactions: Tax payers above Rs 8 lakh slab to benefit most, says PwC