InvestorQ : Has the budget offered any specific benefits to the middle class in India?
vaishnavi mhatre made post

Has the budget offered any specific benefits to the middle class in India?

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vidhya Laxmi answered.
1 month ago
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Contrary to expectations that the budget may hike taxes to compensate for the revenue shortfall this year, the positive news was that tax slabs and tax rates remained the same. There was some good news for senior citizens above the age of 75 earning only pension and interest income as they will now be exempted from filing income tax returns.

Additionally, the auto filling of forms will also help the middle class file returns easily. In addition, the supplementary deduction of Rs.150,000 which is currently available on interest paid on a home loan to buy affordable homes has also been continued for one more year till the 31 of March 2022.. All these are important benefits to the middle class.

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