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Union Budget 2018 Rs.40,000 standard deduction given by employer has just been taken away

  1.     Govt. to implement MSP for all crops; MSP hiked to 1.5 times of production costs
  2.     Rural haats to be upgraded to Grameen agricultural markets
  3.     This year's Budget to focus on agriculture and rural economy
  4.     Women SHGs will be encouraged to take up organic farming
  5.     2,000 crore fund for development of agri market
  6.     2 crore additional toilets to be constructed under Swach Bharat Abhiyan
  7.     Free power connections to 4 crore homes
  8.     Govt. to provide free LPG connection to 8 crore women under Ujjwala scheme

Come 1 April 2018, whatever medical facilities provided by an employer to employee and family would be fully taxable because standard deduction of Rs 40,000 is supposed to take care of transport expenses and medical expenses hitherto reimbursed by the employer.




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