The Finance Minister is likely to extend tax sops in housing, healthcare and education, as well as encourage savings and investment, instilling a feel-good factor in Budget 2016
Zee Media Bureau
New Delhi: What's your wishlist from Budget 2016? What is it that you as a common man or aam aadmi would want from Finance Minister Arun Jaitley on February 29.
The Finance Minister is likely to extend tax sops in housing, healthcare and education, as well as encourage savings and investment.
As per a report in The Economic Times, while the Finance Minister may not make big announcements for the aam aadmi, he may implement some of the key recommendations of the Justice Easwar Committee which was set by Jaitley himself for simplifying income tax.
Including provisions like increasing tax deduction limits under 80C, and reducing rates for tax deduction at source (TDS) will definitely succeed in instilling feel-good factor in Budget 2016.
The Finance Minister may also announce provisions relating to smoother scrutiny assessments and speedier tax refunds and legislative amendments for curbing undesirable tax litigation.