IT firm employees want tax bar raised

 With the Budget 2016-17 to be presented on Monday, IT professionals working in the city are keeping their fingers crossed. However, there is no denying the fact that the global economic situation is not too favourable and there is tremendous pressure on the government to contain the deficits.

“I expect steps towards a simplified personal income tax structure with increased minimum salary bar for tax eligibility. Also, I expect an effective privatisation (disinvestment) programme,” said Puneet Arora, a transaction advisor as an IT firm.

Keeping in mind that the previous Budget had no increase in the basic exemption limit, entrepreneurs expect relief for individual taxpayers.

“In order to provide relief to individual taxpayers, stimulate consumption, encourage savings, it is expected that the basic exemption limit shall be hiked from the existing Rs 2.5 lakh to Rs 2.75 lakh”, said Ranjan Singh, an employee at an IT start-up.

People also want more fund allocation towards education, health and infrastructure development.