Some relief to individual and salary tax payers, Finance Minister Arun Jaitley presenting Union Budget 2014-15 today in Parliament.
Income Tax exemption limit raised to Rs.2.5 lakh and also raised to Rs 1.5 lakh under Section 80C
For Senior Citizen tax exemption limit also increased to 3 lakh.
The Central Government today hiked the exemption limit for investments by individuals in financial instruments to Rs 1.5 lakh under section 80C.
And one more relief to the depositors of Public Provident Fund, the ceiling limit will raised to Rs.1.5. lakh form current level of Rs.1 lakh.
No change in tax rates
No provision for either DA Merger or IR for Central Govt Employees in this budget