How will Budget 2018 impact your net taxable income?
In the Union Budget 2018, the government has provided a standard deduction of â¹40,000 from salary income to employees. But it also took away existing annual transport allowance of â¹19,200 and â¹15,000 medical reimbursement. So, the net taxable income of employees under 60 years of age will be a reduction of â¹5,800 from salary income.