We bring you our detailed analysis of the recent budget proposals. Like every Indian, I have expected many changes in this budget, especially, being a pre-election year budget. But this budget appeared to me, as if, something more can be done, but has not. The macro-economic indicators project that the country is going to post good growth in the coming years.
Before leaving you to the detailed analysis, I would like to touch certain proposals which attracted my interest. The first is the introduction of new appellate authority under the provisions of Income Tax Act to clear the pending cases before the existing appellate authorities. This would improve the speed of the disposal of cases and definitely a welcome move. The next one is the changes brought to the new tax regime. Allowance of standard deduction and reduction of surcharge makes it bit attractive. It appears to me that the over a period of time, the old regime would be discontinued. The increase of exemption for leave encashment is also a positive move.