People living on rent eligible for deductions of up to Rs 60,000: Jaitley

Jaitley on Monday said that people living in rented houses will be eligible for deductions of up to Rs 60,000 now - up from Rs 24,000. He also said the ceiling of tax rebate for people with income up to Rs.500,000 per annum was being raised to Rs.5,000 from the present Rs 2,000.