Due to the Covid Pandemic, many things have changed in the country. From the school to the job of the children, the work is going on from home. Amidst the increasing trend of ‘Work from Home’, many types of expenses of the employed people have increased.
New Delhi: Due to the Kovid Pandemic, many things have changed in the country. From the school to the job of the children, the work is going on from home. Amidst the increasing trend of ‘Work from Home’, many types of expenses of the employed people have increased. Its biggest impact is being seen on internet, telephone, furniture and electricity bills.
Hope for great relief
Before the Corona epidemic, there was no tension of such expenses. In such a situation, in this budget, those doing ‘work from home’ are expected to get a big relief. For the last few years, in the union budget, the salaried people were not given any special relief by the government. In such a situation, this time you can get the gift of work from home allowance.
Demand for giving work from home allowance
In fact, in the past, Deloitte India, a company providing tax services and financial services, has demanded work from home allowance to the employed people. It has been said in the demand that if the government cannot give the allowance directly, then make a provision for exemption in income tax. Deloitte has mentioned the work from home culture in Britain.
ICAI also made similar recommendations
If the Finance Minister considers the demand of Deloitte India, then the employees working from home can get work from home allowance of up to Rs 50 thousand. Similarly, the Institute of Chartered Accountants of India (ICAI) has also made similar recommendations regarding the budget.
Standard deduction may increase
It has also been demanded by ICAI that there is a need to increase the limit for providing relief in standard deduction to the taxpayers. Currently, the standard deduction limit under income tax is Rs 50,000. There is a demand to increase this to Rs 1 lakh.
Let us tell you that some exemptions are given to the taxpayers under Section 10 of Income Tax. This rule is very old. In view of inflation, the limit of 50 thousand is falling. In view of this, a demand is being made to increase the limit of standard deduction from 50 thousand to one lakh rupees under section 10.
