Less of taxes and a bit more in bank account

Union Budget 2016 is the time to be hopeful for most salaried individuals. For two years in a row Arun Jaitley has rewarded the salaried individuals with something or the other. Last year the Finance Minister gave an additional tax saving avenue of NPS by allowing an investment deduction of Rs 50000 under section 80CCD. He also hiked the health insurance tax benefit by Rs 10000. A year before that Finance Minister hiked the tax exemption limit by Rs 50000.

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