Instead of incrasing income tax slab from 1lac to 1.1lac FM wants to bring once again standard deduction Rs.30000/-which was allowed as deduction u/s.16(i)upto A.Y.2005-2006 to salary earner because increased income slab will be benefited to small businessmen or who declare dummy income for getting finance from the bank by declaring income below the tax limit and businessman in their P&L claims 50% or sometime 100% household expenses. Once again FM needs to think on the standard deduction on salary while passing the budget in Parliament.
