Save more with this budget

Increase in the 80C limit & increase in the minimum tax bracket

With minimum tax bracket going to 2,50,000 from the earlier limit of Rs 2,00,000 and increase in the 80C from current Rs 1,00,000 to Rs 1,50,000, now you have more avenues to save. With life insurance, mutual funds, home loan etc , the limit of Rs 1,00,000 in 80C looked too constraining. Well, it is still not the best limit, But better late then never. A start has been made.


When Mr. Jaitley , the finance minister, announced these measures they looked pretty small. However a simple back of the envelop calculation gives you a saving of Rs 20,000 per year, almost Rs 1,800 per month. These will be applicable post the passing of finance bill from Parliament.

So go and change your tax declaration on your company’s intranet portal fast to save more.