The number of Line items which goes under 80C is too high starts with Children's Fee/ULIP/PF/Housing Loan Principal..Etc with a 1Lakh Slab, I guess this has been there for god knows since how many years .Given the Cost of living and the awareness of a common man on investments have significantly increased during the last 10 years, its important we move that slab to 3Lakhs. this will give relief to lot of Tax Payers
Tax benefits for housing loans should be withdrawn as many people are buying housing as a investment tool. This is causing artificial demand for houses and genuine buyers are unable to buy houses as the demand for houses is more so is the price.
Make the income tax slab rates as mentioned below: Upto Rs 3,00,000 - Nil Rs 3,00,000 to Rs 5,00,000 - 10% Rs, 5,00,000 to Rs 10,00,000 - 20% Rs 10,00,000 and above - 30%
