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Ceiling on section 80C (Tax Eligible) investments likely to be upgraded

Jun 16, 2009

In the forthcoming budget there is a likelihood of the current ceiling of Rs. 1 Lakh being bettered by another Rs. 50,000 taking the ceiling to Rs. 1.5 Lakhs.

Such a move could reduce the taxes to the extent of Rs. 17,000 for individuals in the highest tax bracket and atleast Rs. 5,150 for individuals in the 10% tax bracket.

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