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

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(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

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