......In addition, there have been discussions around raising the tax-free allowance available to salaried individuals. As TOI has argued in the past, these tax-free allowances have little relevance now. For instance, the tax-free annual medical reimbursement is fixed at Rs 15,000, while transport allowance is pegged at Rs 800 a month. While there have been suggestions to hike the 80C limit to Rs 5 lakh, government sources dismissed the demand arguing that there is little headroom given the tight fiscal situation............
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