salaried employees

Income tax has been the most important topic of deliberation since the announcement of the Union Budget by current Finance Minister Pranab Mukherjee. On hindsight, the scenario looks favorable for the middle class, promising a windfall of savings through widened tax slabs.

The revised Union Budget was announced by the Finance Minister, Pranab Mukherjee at the end of February, 2010. The budget has bought with it several reasons to celebrate as well as lament. While the budget, like the previous ones, is aimed at empowering the ‘aam admi’ (common man), its outcome on the average individual’s pocket is debatable.