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A good take on Old Vs new taxation. All in all it is really a blessing for middle class. They now have money they can chose to do what they want instead of forced to invest for tax breaks.

if in 30 days 6 people did not see a single 2k note, then basic math says, the probability of these six people coming across a 2K note in 365 days is near zero...not absolute zero but near zero. People's situations are different & I am only talking from pov of normal people doing normal things...

not chest thumping, It's experiencing it practically. Was in India in Dec and pretty much did temple run for couple of weeks and loads of shopping in other 2 weeks. Neither me nor my family came across 2K note. I am not saying people don't have 2K notes. what i experienced points to govt...

Your old habits again. I did not say you don't see 2k notes. I was making a point about how they are not being "circulated" actively. in fact, if you deposit the 2k note you have in a bank, you will never see it again. Btw, they are NOT rare in ATM's. They just don't dispense them...period. An...

Why not make a short video of withdrawing 2000 rupee notes from ATM and share with us. You are right about the 10L withdrawal, you need to inform before hand, was not the case few years back. And I would be surprised if you get 2k notes doing that as well.

That is true, what is also true is that banks are not holding 2000 notes anymore. Neither are they available in ATM's or in the banks. In fact, if one goes to a bank and try withdrawing 10L. The experience would be pretty telling.

This already happening in India. 2000 rupee notes are already not being made available for circulation. Would be interesting when 2024 elections happen. anyone caught with massive 2000 rupee notes would pretty much be screwed.

wrong, Currently, homebuyers can claim an income tax deduction on the interest paid on their home loan under Section 24 (b) of the Income-tax Act, 1961. The maximum amount of deduction that can be claimed is Rs 2 lakh per financial year for a self-occupied property. Homebuyers can also claim...

As far as I understand 80c etc are applicable to new tax regime. So, it will be 7 Lakks + all the other stuff you mentioned. Are you not saving tax on 2 lakhs?

The more you go into details on tax change, this is a massive savings for lower middle class as well as for middle class. Does not offer much to rich through direct taxes but they don't lose out in anyway.

That was cracker of a budget. I think many of us were afraid they would mess up and not cater to voters. Instead, they got a good budget in, covering all good bases.

Market went up because this budget would soothe middle class a bit, ergo, BJP would come back to power in 2024. Let me tell you, market would have tanked if it gets even a wind of BJP losing power. devil is always in details but fortunately for India, our tax regime is not that complicated...

budget is a populist one. With new tax slabs, middle class and employees should be pretty happy. It adds a decent amount to their savings monthly.