Budget should reduce tax rates, raise personal income tax exemption limit to Rs 5 lakh from Rs 3 lakh: EY India
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm ErnstYoung India (EY India).
EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5