The current government is set to complete its five-year term in May, and so it presented an interim budget on 1 February rather than a full budget. However, in a departure from convention, interim finance minister Piyush Goyal (standing in for Arun Jaitley) said small taxpayers like pensioners, middle class, salary earners and senior citizens need certainty in their minds at the beginning of the year about their taxes. Therefore, certain tax proposals have been introduced for the benefit of such class of people. The article delves deep into these proposals.
Partner, Grant Thornton India LLP
This article appeared in Live Mint on 22nd February, 2019