2. Reduction marginal Tax rates:
The maximum marginal income tax rate for individuals is 30 percent for Rs.8,00,000 which when to compared to other countries is much high. A possible reduction to 25 percent will boost the confidence of the common man and also the income slab at which the tax rates are applied needs to be increased to Rs.10,00,000.
3. Housing exemption:
The interest exemption rate today is Rs.1,50,000 and the housing loan interest is between 10 to 11 percent. So supposedly a person wants a housing loan of Rs.15 lakh then according to the interest exemption limit of 10 percent about Rs.1,50,000 goes away in paying the interest. High inflation has increased the rate of interest; the housing cost has also gone up substantially. So the limit has to be increased substantially because we are at Rs.1,50,000 for many-many years now.
3. Housing exemption:
The interest exemption rate today is Rs.1,50,000 and the housing loan interest is between 10 to 11 percent. So supposedly a person wants a housing loan of Rs.15 lakh then according to the interest exemption limit of 10 percent about Rs.1,50,000 goes away in paying the interest. High inflation has increased the rate of interest; the housing cost has also gone up substantially. So the limit has to be increased substantially because we are at Rs.1,50,000 for many-many years now.
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