I-T relief to be hiked to 3 lacks per annum

[Student]

The government is considering the opinion that the Income tax returns should be filed only if the income exceeds 3 lacks per annum. If this is given a clearance, there would a sigh of relief to many middle class people who have been suffering with the high inflation and low salaries and yet made to pay the income tax.

 

[IamanINDIAN]

Well, the IT relief has been only of little help because government has only hiked the amount to 2 lacs from 1.8 lacs which saves just about 2 thousand rupees of taxes annually! It doesn't even compensate the expenses which we will have to bear after the 2% increase in service taxes. I think the taxation policy must be reviewed as barely increasing taxes and minimally reducing the tax slab doesn't do any good to the people. Please share your views on this!