evidence: Home / Budget / News / Most people feel I-T exemption limit could be raised from Rs 2.5 lakh: KPMG [...] As many as 64% of the respondents said they expect the basic I-T exemption limit to be raised from Rs 2.5 lakh a year, according to a pre-budget survey by KPMG in India [...] A majority of respondents (64 per cent) feel that the Union Budget 2022-23, to be unveiled on February 1, will increase the basic income tax exemption limit from the current Rs 2.5 lakh, according to a pre-budget survey by KPMG in India.