New Delhi: Common people are eagerly waiting for the Union Budget 2018 as it will be the first budget after the implementation of Goods and Services Tax (GST).
It may be mentioned that the Union Budget 2018 will be presented in the Parliament on 1st February 2018.
Here are the expectations of common people as reported by Yahoo India Finance Team.
- Tax exemption limit on agriculture income should be increased to Rs. 25 lakh.
- If the taxpayer loses the job due to market fluctuations, he/she should get unemployment allowance.
- No toll payments on State and National Highways.
- Lifetime pensions and other facilities to the MPs and MLAs should be revised.
- Free zone companies in all Indian States having seaports.
- 12 percent should be the maximum rate of GST.
- No tax should be imposed on the premium of health insurance paid by senior citizens.
- Interest earned from saving account deposits should also be exempted from tax.
- Tax imposed on the interest earned from FD should be reduced from 10% to 5%
- Allowance of at least Rs. 5000 per month should be given to every unemployed youth until he/she gets a job.
- Increase Income tax rebate for handicapped persons.
- Middle-class people should be covered under affordable housing schemes.
- Simplification of the Return Form.
This post was last modified on January 24, 2018, 3:27 pm