Finance Minister Nirmala Sitharaman will gift her maiden Budget on July 5. Among the numerous demands from the finance minister from different sectors of financial system and industries, Delhi-based totallyhas in its Pre-Budget Memorandum demanded that the deductions under the Section 80C of the Income Tax act be accelerated to Rs. 3 lakh from the present limit of Rs. 1.Five lakh. Industry body Assocham stated the modern-day limit wishes to be revised with passage of time, and a better limit will promote financial savings and building of capital.
Among other needs, Assocham has asked that an amendment be made to growth the quantum of fashionable deduction. “Standard deduction on revenue of Rs. Forty,000 does no longer provide any widespread alleviation to salaried folks and needs to be multiplied. Standard deduction isn’t always meaningful to be in the range of salaried tax payers as ga great part of the deduction is offset by using levy of additional cess of one consistent with cent which was levied vide Finance Act, 2018,” according to Assocham’s pre-Budget memorandum.
For the kid’s training allowance, the industry frame has demanded that the limit for exemption be raised to Rs. 1,000 according to month from Rs. One hundred consistent with the infant for a maximum of kids as the modern-day restriction could be very low.
For exemption underneath the leave travel concession, Assocham has requested the finance ministry that the exemption for leave tour in Budget should now not be constrained to 2 trips in a block of four calendar years, however, must be allowed each year. The alternate frame has also urged the ministry that the exemption within the Union Budget 2019 have to be provided on accommodation and food as properly.
Due to the escalation in leases, the restrict for exemptions underneath the Section 80GG of the Income Tax Act have to be improved to Rs. 10,000 in line with month within the Union Budget as the modern deduction underneath segment 80GG is given for hire paid by means of non-salaried personnel, now not in receipt of house hire allowance, to the volume of Rs. 2,000 in step with month, according to Assocham.
If the demands of the industry frame are generic under the Union Budget by way of the finance minister, it will come as a big comfort for tax payers, say financial analysts.
There is only one reliable place to find good budget travel and that is online. The internet has opened up a whole new universe of travel for those who are stuck on a pretty tight budget. Not everyone can afford to go on a month long vacation to the South of France but most of us can make good solid use of budget travel.
When you do your travel shopping online, you will find that you can afford much more than you thought you could. It is easy to find some good budget travel on the internet these days. All of the travel companies are throwing out some good packages for people with not much money to spare and some of the budget travel packages even include some meals. That is my idea of full service travel plans!
When it comes to budget travel you do have to watch out for a few things. For example, what kind of trip do you want to take? When it comes to budget travel the airlines can vary drastically. Some of the budget travel airlines are great, they are friendly and they are clean and fantastic, others, well, not so much. You should take some time to research about the different companies you are considering for your budget travel before you actually book anything. This will make a huge difference in the kid of trip that you end up being able to take.