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Sunday, Oct 20, 2019

#interimbudget2019: Salaried people happy with tax breaks; Pune homemakers wanted more

Section of people disappointed over failure to check rising prices of essentials like cooking gas and fuel

pune Updated: Feb 02, 2019 16:44 IST
HT Correspondent
HT Correspondent
Hindustan Times, Pune
The doubling of income tax exemption limit from ~2.5 lakh to ~5 lakh was welcomed by the common man.
The doubling of income tax exemption limit from ~2.5 lakh to ~5 lakh was welcomed by the common man.(HT PHOTO)
         

The doubling of income tax exemption limit from Rs. 2.5 lakhs to Rs. 5 lakhs and the raising of TDS (tax deduction at source) threshold on rental income from Rs. 1.8 lakh to Rs. 2.4 lakh by Finance minister Piyush Goyal on Friday was welcomed by the common man. However, there was disappointment over the failure to check the galloping prices of essentials such as cooking gas and fuel prices.

Brijesh Kumar, an information technology (IT) professionals working with Infosys, said, ”One of the major respites for the middle class is the increased cap in income tax exception. My colleagues were overjoyed after hearing the news of tax bracket which has been increased from Rs 2.5 lakh to Rs 5 lakh. This is a small step but a reason to celebrate for the hard working middle class and IT professionals.”

According to the budget announcement, income taxpayers earning up to Rs 5,00,000 will get a full tax rebate, while those earning up to Rs 6,50,000 will not need to pay tax if they invest in public provident funds and prescribed equities. The finance minister said the tax-related announcement will benefit as many as 3 crore, middle-class taxpayers.

Vipin Dahake who works as an IT professional with TCS also shared the same views on the budget. Dahake said, ”At this age, we think how to save money from the income tax deduction. But this year the Modi government has given us a big surprise. We are happy with this budget.”

Along with the salaried class, retired senior citizens are also happy about the budget. Yogendra Natu,70, a resident of Karvenagar said,”We are happy because the government has increased the Tax Deducted at Source (TDS) limit on fixed deposit from Rs 10,000 to Rs 40,000. However, while declaring popular schemes, there is no control over the fiscal deficit.”

Asha Kale, a housewife said, ”After a long time the budget seems to be good for the common people. However, the government should control the rising prices of gas, petrol and diesel and only then it will become a common people-centric budget.”

However, Anna Jogdan, who works in a private firm and owns a farm, has a slightly different view on this budget. He said, ”The government has started a pension plan for the unorganised sector and an increased tax benefit limits which are good. But on the other hand, the government has declared Rs 17 per day scheme for farmers which is nothing but a mockery. The present government does not have a plan to stop suicides of farmers, hence the government will have to face farmers distress in the upcoming elections.”

First Published: Feb 02, 2019 15:16 IST

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