Govt mulls personal I-T relief while scrapping some exemptions: Report

If the government tinkers with personal taxes, it will add to the list of measures taken in recent months to boost growth that's expanding at the slowest pace in nearly six years

Government is considering tax relief for individuals as it looks at measures to accelerate consumer demand and boost economic growth, people with direct knowledge of the matter said.
 

Prime Minister Narendra Modi’s government is mulling a proposal to hike the taxable income limits, especially the 1 million rupee slab, which attracts a 30% rate at present, the people said, asking not to be identified as the discussions are private. The move will be accompanied by scrapping some tax breaks, including the one offered on house rent payments and interest earned on some bank deposits.
 

The measures may form part of