Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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                            <div align="justify">-PTI<br /><br /><em>NEW DELHI: </em>With rise in personal disposable income post 7th Pay Commission, the income tax exemption limit needs to be raised by Rs 50,000 to Rs 3 lakh, a SBI report said on Monday. The move will benefit around 75 lakh people, it said.<br /><br />The SBI's Ecowrap report further said that if the exemption limit of interest payments under housing loan is increased to Rs 2.5 lakhs for existing home loan buyers, from Rs 2 lakhs now, it will benefit 75 lakh home loan buyers and cost the government just about Rs 7,500 crore.<br /><br />Finance Minister Arun Jaitley is set to present the fifth and final full budget of the current government on February 1. The government has periodically increased the income tax slabs from Rs 22,000 in 1990-91 to Rs 2.5 lakh in 2014-15.<br /><br />&quot;Due to 7th pay commission, the personal disposable income has been increased, so we believe there is a need to raise the exemption limit to Rs 3 lakh. Due to such increase in limit, around 75 lakh tax payers will be exempted from income tax,&quot; said the report -- 'Union Budget: If wishes were horses!'.<br /><br />It has also pitched for incentivising savings through bank deposits. In an effort to incentivise savings, it said, the government can exempt interest of savings bank deposits.<br /><br />The exemption limit on TDS on interest on term deposits with banks may be raised from the present limit of Rs 10,000 per annum, it said.<br /><br />Also, the lock-in period for tax savings term deposits needs to be reduced to 3 years from the present 5 years and these deposits should be brought under EEE (exempt, exempt, exempt) tax regime.<br /><br />The SBI report said that SBI's expectations regarding the forthcoming budget are based upon principle of inclusive growth and meeting the medium and long term objectives set by the government.<br /><br />&quot;As per our reading of the things, budget should give priority to agriculture, MSME, infrastructure and affordable housing,&quot; it said.<br /><br />Agriculture reforms should aim at re-examination of legally created structures whose provisions are restrictive and create barriers to free trade, it said.<br /><br />Centre in conjunction with states should emulate the price support schemes like in Madhya Pradesh and Haryana say 'Bhavantar Krishi Yojana' for major crops (including vegetables). <br /><br />Please <a href="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms" title="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms" class="re" target="_blank">The Times of India, 22 January, 2018, https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms</a><div class="clear"></div>
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    <h1 class="cat-box-title">SBI&#039;s Budget 2018 pitch: Increase income tax exemption limit to Rs 3 lakh</h1>
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                            <div align="justify">-PTI<br /><br /><em>NEW DELHI: </em>With rise in personal disposable income post 7th Pay Commission, the income tax exemption limit needs to be raised by Rs 50,000 to Rs 3 lakh, a SBI report said on Monday. The move will benefit around 75 lakh people, it said.<br /><br />The SBI's Ecowrap report further said that if the exemption limit of interest payments under housing loan is increased to Rs 2.5 lakhs for existing home loan buyers, from Rs 2 lakhs now, it will benefit 75 lakh home loan buyers and cost the government just about Rs 7,500 crore.<br /><br />Finance Minister Arun Jaitley is set to present the fifth and final full budget of the current government on February 1. The government has periodically increased the income tax slabs from Rs 22,000 in 1990-91 to Rs 2.5 lakh in 2014-15.<br /><br />&quot;Due to 7th pay commission, the personal disposable income has been increased, so we believe there is a need to raise the exemption limit to Rs 3 lakh. Due to such increase in limit, around 75 lakh tax payers will be exempted from income tax,&quot; said the report -- 'Union Budget: If wishes were horses!'.<br /><br />It has also pitched for incentivising savings through bank deposits. In an effort to incentivise savings, it said, the government can exempt interest of savings bank deposits.<br /><br />The exemption limit on TDS on interest on term deposits with banks may be raised from the present limit of Rs 10,000 per annum, it said.<br /><br />Also, the lock-in period for tax savings term deposits needs to be reduced to 3 years from the present 5 years and these deposits should be brought under EEE (exempt, exempt, exempt) tax regime.<br /><br />The SBI report said that SBI's expectations regarding the forthcoming budget are based upon principle of inclusive growth and meeting the medium and long term objectives set by the government.<br /><br />&quot;As per our reading of the things, budget should give priority to agriculture, MSME, infrastructure and affordable housing,&quot; it said.<br /><br />Agriculture reforms should aim at re-examination of legally created structures whose provisions are restrictive and create barriers to free trade, it said.<br /><br />Centre in conjunction with states should emulate the price support schemes like in Madhya Pradesh and Haryana say 'Bhavantar Krishi Yojana' for major crops (including vegetables). <br /><br />Please <a href="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms" title="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms" class="re" target="_blank">The Times of India, 22 January, 2018, https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms</a><div class="clear"></div>
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NEW DELHI: With rise in personal disposable income post 7th Pay Commission, the income tax exemption limit needs to be raised by Rs 50,000 to Rs 3 lakh, a SBI report said on Monday. The move will benefit around 75..."/>
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    <h1 class="cat-box-title">SBI&#039;s Budget 2018 pitch: Increase income tax exemption limit to Rs 3 lakh</h1>
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                            <div align="justify">-PTI<br /><br /><em>NEW DELHI: </em>With rise in personal disposable income post 7th Pay Commission, the income tax exemption limit needs to be raised by Rs 50,000 to Rs 3 lakh, a SBI report said on Monday. The move will benefit around 75 lakh people, it said.<br /><br />The SBI's Ecowrap report further said that if the exemption limit of interest payments under housing loan is increased to Rs 2.5 lakhs for existing home loan buyers, from Rs 2 lakhs now, it will benefit 75 lakh home loan buyers and cost the government just about Rs 7,500 crore.<br /><br />Finance Minister Arun Jaitley is set to present the fifth and final full budget of the current government on February 1. The government has periodically increased the income tax slabs from Rs 22,000 in 1990-91 to Rs 2.5 lakh in 2014-15.<br /><br />&quot;Due to 7th pay commission, the personal disposable income has been increased, so we believe there is a need to raise the exemption limit to Rs 3 lakh. Due to such increase in limit, around 75 lakh tax payers will be exempted from income tax,&quot; said the report -- 'Union Budget: If wishes were horses!'.<br /><br />It has also pitched for incentivising savings through bank deposits. In an effort to incentivise savings, it said, the government can exempt interest of savings bank deposits.<br /><br />The exemption limit on TDS on interest on term deposits with banks may be raised from the present limit of Rs 10,000 per annum, it said.<br /><br />Also, the lock-in period for tax savings term deposits needs to be reduced to 3 years from the present 5 years and these deposits should be brought under EEE (exempt, exempt, exempt) tax regime.<br /><br />The SBI report said that SBI's expectations regarding the forthcoming budget are based upon principle of inclusive growth and meeting the medium and long term objectives set by the government.<br /><br />&quot;As per our reading of the things, budget should give priority to agriculture, MSME, infrastructure and affordable housing,&quot; it said.<br /><br />Agriculture reforms should aim at re-examination of legally created structures whose provisions are restrictive and create barriers to free trade, it said.<br /><br />Centre in conjunction with states should emulate the price support schemes like in Madhya Pradesh and Haryana say 'Bhavantar Krishi Yojana' for major crops (including vegetables). <br /><br />Please <a href="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms" title="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms" class="re" target="_blank">The Times of India, 22 January, 2018, https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms</a><div class="clear"></div>
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SBI's Budget 2018 pitch: Increase income tax exemption limit to Rs 3 lakh

Published on Jan 23, 2018   Modified on Jan 23, 2018

-PTI NEW DELHI: With rise in personal disposable income post 7th Pay Commission, the income tax exemption limit needs to be raised by Rs 50,000 to Rs 3 lakh, a SBI report said on Monday. The move will benefit around 75 lakh people, it said. The SBI's Ecowrap report further said that if the exemption limit of interest payments under housing loan is increased to Rs 2.5 lakhs for existing home loan buyers, from Rs 2 lakhs now, it will benefit 75 lakh home loan buyers and cost the government just about Rs 7,500 crore. Finance Minister Arun Jaitley is set to present the fifth and final full budget of the current government on February 1. The government has periodically increased the income tax slabs from Rs 22,000 in 1990-91 to Rs 2.5 lakh in 2014-15. "Due to 7th pay commission, the personal disposable income has been increased, so we believe there is a need to raise the exemption limit to Rs 3 lakh. Due to such increase in limit, around 75 lakh tax payers will be exempted from income tax," said the report -- 'Union Budget: If wishes were horses!'. It has also pitched for incentivising savings through bank deposits. In an effort to incentivise savings, it said, the government can exempt interest of savings bank deposits. The exemption limit on TDS on interest on term deposits with banks may be raised from the present limit of Rs 10,000 per annum, it said. Also, the lock-in period for tax savings term deposits needs to be reduced to 3 years from the present 5 years and these deposits should be brought under EEE (exempt, exempt, exempt) tax regime. The SBI report said that SBI's expectations regarding the forthcoming budget are based upon principle of inclusive growth and meeting the medium and long term objectives set by the government. "As per our reading of the things, budget should give priority to agriculture, MSME, infrastructure and affordable housing," it said. Agriculture reforms should aim at re-examination of legally created structures whose provisions are restrictive and create barriers to free trade, it said. Centre in conjunction with states should emulate the price support schemes like in Madhya Pradesh and Haryana say 'Bhavantar Krishi Yojana' for major crops (including vegetables). Please click here to read more.

The Times of India, 22 January, 2018, https://timesofindia.indiatimes.com/business/india-business/sbis-budget-2018-pitch-increase-income-tax-exemption-limit-to-rs-3-lakh/articleshow/62606384.cms

Tagged with: State Bank of India Union Budget Union Budget 2018-19

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