An increase in income tax exemption limits, support to women entrepreneurs, a long-term taxation policy and steps to boost consumption and savings are among the expectations of experts from the interim budget which will be presented by Union Finance Minister Nirmala Sitharaman on February 1 ahead of Lok Sabha elections. They also demand for parity in taxation among companies, partnerships and limited liability partnerships. "This is going to be an interim budget but at least there may be some indications of full-budget benefits. There may be some concession to be offered to individual taxpayers under section 87A under which the overall tax exemption limit may be increased to Rs 8 lakh from now Rs 7 lakh, inclusive of rebates," All India Federation of Tax Practitioners national president Narayan Jain said. Bharat Chamber of Commerce president N G Khaitan said there is a need for a long-term taxation policy and parity in taxation among companies, partnerships and limited liability ... Read The Rest at :