|This year the expectation is that the direct tax code comes into effect.
There are also various recommendations in this regards which could have a direct impact on a salaried individual like me.
This could deincentivize us to invest more, though tax saving should not be the purpose of planning ones own investments.
Moreover individual with housing loans who were claiming tax exemption on principal paid might not be able to claim it any longer.
In the foreseeable future one can expect petrol and diesel price revision before the budget. In the budget excise duties may go up on automobiles and other products including consumer durables leading to the burden being passed onto the consumer.
Also Read: Budget Expectations: Wishlist of the common man
Salaried class may look forward to changes in three areas-
a) Change of the minimum exemption for income tax from Rs 1 lakh 80 thousand to near about Rs 3 lakh. This is something that will add to the disposable income of the