The IT limit for the salaried class has been raised from Rs 2.5 lakh to 5 lakh with a standard deduction of Rs 50000.
The Income-tax compliance has increased Minister Piyush Goyal said. He was presenting the interim budget here in the parliament. 99.54 per cent of returns have been accepted without any questions he said.
The returns of IT will be scrutinised and cleared electronically he clarified. The burden of tax on the middle class will be reduced.
Overall IT compliance has increased. The GST reforms have been carried out. This is the biggest taxation reform done he said. The section 80 C limit has been raised from one lakh to one and a half lakh.
Digital India will be created in the next 10 years with all the required infrastructure he said. India will be made a pollution free nation he said. Electrical vehicles will be introduced he stated. Cinemas made in India will have single window clearance. India has become the space launch for the world.
Food will be produced in the organic form with modern agricultural practices.