Kalpvriksha Realty Gurgaon reposted this
"Real Estate Visionary | Mechanical Engineer | Founder-Kalpvriksha Realty Gurgaon"
Budget 2024: What are the 5 things that Salaried Class Wants: 1️⃣ Tax rate reductions: The highest tax rate of 30% may be reduced to 25% under the new tax regime, along with an increased standard deduction. 2️⃣ Threshold adjustments and deduction limits: The government might raise the threshold limit for the highest tax rate from INR 10 lakhs to INR 20 lakhs, and consider increasing the 80C deduction limit. 3️⃣ Standard deduction enhancements: Expectations for an increase in the Section 80C deduction limit from ₹1.5 lakhs to possibly ₹2.0 lakhs, along with a rise in the standard deduction. 4️⃣ Capital gains and investment incentives: Hopes for a higher Long-Term Capital Gains (LTCG) exclusion ceiling, from ₹1 lakh to ₹1.5 or 2 lakhs, to accommodate the growing interest in trading. 5️⃣ House Rent Allowance (HRA) and other allowances: Anticipating higher HRA exemptions to counter rising rental costs, especially in metropolitan areas, making rented accommodations more affordable. #Budget2024 #TaxRelief #DeductionEnhancements #SalariedClass #IndianEconomy
