Budget 2018 should consider higher personal tax rebates: Deloitte survey

All survey respondents in favour of increasing the existing basic exemption limit of Rs 250,000 to at least Rs 300,000; 80% of respondents want the limit under section 80C raised to Rs 250,000

In an attempt to incentivize savings and to reduce the tax burden on the middle class, the Government should consider offering further tax rebates in the Budget 2018-19. A reasonable reduction in the existing personal tax rates would bring cheers to the taxpayers especially in the wake of rising inflation and reducing purchasing power, says the Deloitte Personal tax survey 2018. 
 
The Personal tax survey captures the views of 697 mid-level managers and attempts to gauge the mood of the taxpayers ahead of the budget. About 55% of the respondents want the basic exemption limit to be raised from