Can’t keep focused through the entire budget speech? Number crunching numbs you? Had enough of reforms versus CMP and reforms versus CPM? And you simply want to know what’s in it for you? Here are ten points to look out for.
Personal tax: Does the FM follow the Kelkar route: cut exemptions on small savings (PPF, Kisan Vikas Patra, post office time deposits, etc), give relief, by way of raising the taxable limit (currently, tax starts from Rs 50,000-plus annual income) and reduce the number of slabs (currently three, attracting rates of 10 per cent, 20 per cent and 30 per cent)? Related questions. First, will he reform tax incentive on housing loans? Kelkar recommends an interest subsidy when you take a loan instead of tax relief on interest paid on the loan. Second, will small savings interest rates be aligned to market (read reduced)?
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