According to the report, the finance ministry has asked for a report from the income tax department to decide over the possibility of exemption in tax slab. CNN-IBN quoted its sources as saying that the Central Board of Direct Taxes ( CBDT) is likely to submit a report by June 20.
In another decision which could have a far reaching effect, the government is also considering to raise tax exemption limit on home loans and health insurance premium, the report said.
The health insurance premium is likely to be raised by Rs 5,000, it added.
(c) economictimes