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How the budget proposals benefit the salaried class
The Budget proposes to increase the tax on long-term gains from non-equity mutual funds from 10% to 20% after indexation.
The Union Budget has several indirect tax proposals that would impact consumers. We give you a snapshot of the proposals and what they mean for the consumers.
A lot of Section 80C instruments such as PPF, NSC, 5-year term deposits and Senior Citizen Savings Scheme fall under the category of small savings schemes.
Presently the investments and expenditures up to a combined limit of Rs 1 lakh get exemptions under Sections 80C, 80CC and 80CCC of the Income-Tax Act.
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