1. The proposal to increase the limits of various slabs (10%, 20% etc.) is definitely a very progressive and forwading looking step.
2. The proposal to increase the 80C limit from one to three lakhs rupees is welcome.
3. The limit of gratuity from the existing 3.5 lakhs to 10.0 Lakhs rupees is defintely good. However, it should be revised in a block of every 3-5 years to considering the increase in price rise/inflation.
4. The proposal to abolish Rs. 1.5 lakhs tax benefit on home loan interest certainly needs a relook. Rs. 1.5 lakhs tax benefit on home loan interest has helped the middle class to realize their dreams of owning a house.
