State Bank of India (SBI) called for raising various income tax exemption limits to boost economic growth. The bank said while the revenue forgone through exemptions would be over Rs 35,000 crore, tax collections under Income Disclosure Scheme-2 could be around Rs 50,000 crore and cancelled liabilities from the Reserve Bank of India is expected to be around Rs 75,000 crore.Telugu News Online
A report of the SBI states that it expect an increase in personal income tax exemption limit from Rs 2.5 lakh to Rs 3.0 lakh, increase in Section 80C exemption limit from current Rs 1.5 lakh to Rs 2 lakh,
A report of the SBI states that it expect an increase in personal income tax exemption limit from Rs 2.5 lakh to Rs 3.0 lakh, increase in Section 80C exemption limit from current Rs 1.5 lakh to Rs 2 lakh,