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At present, 60% commutation is allowed under pension plans. However, if an individual does not commute, any amount and opts for 100% annuity, the pension received is fully taxable. The Budget should remove this anomaly.
Salaried sector has always been the highest tax paying segment historically. The government must look at reducing IT rate slabs for salaried employees.
Shashank Srivastava, Executive Director of Maruti Suzuki, told Money9 that the auto industry has huge expectations from the Budget, to be presented on February 1.
Budget 2021 should be aimed at improving credit access and enhance financial well-being by offering a wider choice of tax saving investments.
A demographic dividend can only be achieved if we have jobs, skills, and healthy people.
Benchmark equity indices BSE Sensex and NSE Nifty are likely to stay volatile on the budget day on February 1.
Introducing a tax-free annuity scheme will help the retired enjoy their annuity stream without worrying about taxation.
Budget 2021 must look to unleash the full potential of India's women to galvanise the economy.
India must aggressively prepare for the existential threat posed by climate change. This is critical for the survival and well-being of India’s future generations.
This illustration by India's celebrated cartoonist and illustrator Neelabh Banerjee showcases what is playing on the common man's mind.