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Budget should reduce tax rates, raise personal income tax exemption limit to Rs 5 lakh from Rs 3 lakh: EY India
New Delhi, January 8: The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India).