The Hindu Business Line : Good Budget for salaried, says HR executive

ACCORDING to Mr Leo Fernandez, Vice-President, India Life Hewitt, an HR BPO firm: "It is a welcome Budget for the salaried class due to the higher standard deductions and reintroduction of standard deductions for salaries above Rs 5 lakh, and Section 88 rebates for children education up to Rs 12,000 for each child.

"However, from a payroll administering perspective, it will make it complicated for the employer to keep a tab of these rebates for TDS purposes.

"It is disappointing that the Kelkar proposals could not be implemented immediately. However, announcements towards a one page return, reduction in forms for TDS purposes, filing of returns electronically etc. must please the assessees and employers and it is hoped that these are carried through and implemented immediately. As payroll providers the budget ensures that transition to the New Year rules will be more seamless."

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