gfiles magazine

January 24, 2017

Restore Standard Deduction

The budget presentation date having been preponed by one month to February 1, umpteen suggestions must be pouring in the Finance Ministry regarding changes that need to be made in the Income Tax Act.I just wish to make one to highlight the injustice and discrimination practiced in the cases of the most honest sector of taxpayers-the salary earners-on whom injustice was thrust by P Chidambaram, the Finance Minister in the UPA Government, vide his budget proposals for the year 2005-06 when he increased exemption limits and adjusted the tax brackets.

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