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Is Jaitley Fooling Service Class in Budget Standard Deduction?

1. Standard deductions of 40000 replaces 34200 existing reimbursements(it subsumes transport and medical deduction). So if you are in 20% tax slab with taxable income 10lac... U get 20% of 5800(40000-34200) i.e., *₹1160* benefit.

2. Edu cess increased from 3 to 4% so if your income is 10lac you are paying 112500 tax. 1% additional tax on this i.e., *₹1125*. 

*So ₹1160-₹1125, salaried class get ₹35 relief!*

Enjoy 😊

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