Jaitley proposes standard tax deduction worth Rs. 40K in lieu of transport and medical expenses

(G.N.S) Dt. 01 New Delhi Giving a relief to salaried class, Finance Minister Arun Jaitley today proposed a standard deduction of Rs. 40,000 in lieu of transport allowance and medical reimbursement entailing a revenue sacrifice of Rs. 8,000 crore. The minister, however, did not propose any change in the tax