Budget should reduce tax rates, raise personal income tax exemption limit to Rs 5 lakh from Rs 3 lakh: EY India

💨 Abstract

Ernst & Young India (EY India) suggests that the upcoming Union Budget 2025-26 should focus on personal tax relief for common taxpayers, including raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs, reducing tax rates, and deferring TDS on PF interest above 2.5 lakhs until withdrawal.

Courtesy: theprint.in