Ahead of Union Budget 2015, which will be presented by Finance Minister Arun Jaitley on February 28, 2014, KPMG has tried to understand the expectations of India on personal income-tax through their pre-budget survey.
In the online survey taken by over 200 senior professionals across various India Inc. sectors, there are 53% respondents who expect an increase in the maximum limit of income not to be considered taxable. Further, almost 70% respondents to the survey expect an increase in limit for deductions allowed under section 80C, thus increasing the amount of disposable income in the hands of individuals.
