2. Arun Jaitley speech: Budget 2016 income tax relief - The limit of deduction of house rent paid under section 80GG has also been raised to Rs 60,000 from the existing Rs 24,000 per annum to give relief to employees who live in rented houses. "To encourage the youth to be self employed, house rent deduction under section 80GG was expected to be revised considering the rentals in metros. Giving marginal relief to the self-employed, deduction under section 80GG has been raised from Rs 24,000 to Rs 60,000 to bring them on a level playing field with salaried taxpayers receiving house rent allowance (HRA)," Suraj Nangia, partner, Nangia & Co told IANS. "The new limit is still not in line with the sky-high rentals in metro cities and also considering the deduction on account of HRA available to salaried persons, which can be substantial in cases where the salary and its HRA component are high," Nangia added.