- Mr. Ankit Sehra, Founder & Tax Expert, Ankit Sehra & Associates
“As a tax practitioner, it is expected from upcoming budget 2021 that there should be an increase in the deduction limit of section 80C from 1,50,000 to 3,00,000 p.a. This will boost more investment & eventually lead to overall development of the country. Also, we are hoping this time the Government would be adopting a clear distinction between Long term & Short-term savings, as there is no major support in the tax policy to encourage long term savings, which is a need of this pandemic cycle. Life insurance & Pension funds are a major source of savings for long term purposes. This time we can expect that the Government would consider the separate exemption limit for both of them apart from section 80C.”