How Budget Affects Your Earnings and Investments
Bangalore: The Budget 2012 was the much anticipated event of this year but it has left sort of a bad taste in our mouths. The Budget does have its merits but these tend to get over-shadowed by the problem areas. The much awaited Direct Tax Code (DTC) has been implemented to an extent but its full-fledged effect will take some more time to get in action. The ET Bureau highlights the changes made in the tax structure of the country and how it will affect the common man’s earnings and investments.
Amount of Tax Saved by Common Man
There have been numerous changes made in the tax structure of the country. At the first glance, the changes seem to elate the common man but it is not so. A closer look at the changes shows that the difference in tax exemption is not significant. Also, there have not been many major alterations in the tax framework. According to Surya Bhatia, Delhi-based tax consultant, "Rich taxpayers have benefited from the budget more than the middle and low-income people."
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