News channels are reporting that Govt may increase the tax exemption amount to Rs 5 Lacs.....if this comes true, then along with 80C ,80D and other concessions, it will be possible to earn Rs 7-7.5 L per annum income and not pay any income tax......if one devides the income in 2-3 family members, then upto 15-17 L per annum one can adjust legally without paying income tax.
Govt's thinking is seen from the fact that for 10 % reservation, family income limit is kept at Rs 8 L.
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