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Govt may hike IT exemption limit to Rs 5 lakh: Sources

Last Updated: Saturday, June 14, 2014 - 08:49

Zee Media Bureau

New Delhi: The Narendra Modi led-BJP government is set to make various changes in the economic policies of the country.

The Income Tax exemption limit may be increase from Rs 2 lakh to Rs 5 lakh by government in the forthcoming Union Budget 2014-2015, if sources are to be believed.

If implemented, this could be a major and a historic tax reform which would be welcomed by the people with open arms.

The government is also considering raising the tax exemption limit on home loans and health insurance premium.

First Published: Friday, June 13, 2014 - 19:19
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