Why salaried Indians need a big hike in standard deduction

While businessmen and consultants can claim exemptions against all kinds of expenses, for salaried employees, tax is deducted at source by the employer, which significantly lowers the take-home pay. A good way forward is by increasing standard deduction — not by a token amount, but substantially. Standard deduction is the amount that gets subtracted from your taxable income.

from Times of India https://ift.tt/31SnbBs