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Interim Budget 2019: Will Jaitley double I-T exemption limit to Rs 5 lakh?

The Union Budget will precede the unveiling of the Direct Tax Code Report on February 28

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Arun Jaitley  |  Direct Tax Code  |  Narendra Modi

BS Web Team & Agencies 

The 2019 interim budget on February 1 is likely to bring some good news for taxpayers. Ahead of 2019 Lok Sabha elections, Finance Minister Arun Jaitley may double the income tax (I-T) exemption threshold for the salaried taxpayers from the present Rs 250,000 to Rs 500,000, according to an IANS report.

With financial apathy on the rise after demonetisation drive, this pre-poll sop tactic by the PM Narendra Modi-led government is expected to benefit the middle-class segment of the society. FM Jaitley may also reinstate a tax-free status for medical expenses and transport ...

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First Published: Wed, January 16 2019. 08:58 IST