Mr Santhosh You have totally confused in understanding the budget proposal of Mr Chidambaram. You mean to say if he introduces some more slabs after 5 lakhs the impact will be more. Naturally the tax rate will be more for persons drawing more than 5 lakhs and in such case you have to shell down more tax than now. So think positively. As regards your suggestion for increase in Sec. 80(c) limit it is welcome and it will encourage the savings and will be benefited both by individual and Government. Individual in getting the tax rebate and Government in getting the amount with smaller rate of interest
