With the recently concluded Tax filing season (which if I may draw parallel to the Christmas holiday season enjoyed by one and all), Indians were able to keep their body and soul together in this season. What with this time of the year, where one is expected to scrutinize his own books and ensure that the avg Indian (disclosure I have abstained myself from being tagged in the middle class after I was employed with Microsoft) has done enough for the country by paying their due to nation building, I am sure everyone ruminates over the exercise and feels something like this (for the naïve the red bag is what is carry forward to the next year after the assessment) :
80C TMT 2023 : Deduction in respect of contributions on payment towards high inflation grocery and daily commodities
(1)In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid in the previous year, being the aggregate of the sums referred does not exceed Rs 8670, and is made towards purchasing daily grocery and Kirana items where they shoot the inflation rate of 5% on the govt approved MRP/MSP.
While this is still in draft and I will ask my fellow citizens add more subsections and clauses to cover other important items, but the intention is clear.
On a related note, Red seems to be the color of the season(gold and silver is passe) with party organizers flooded with requests to have red themed parties.
:max_bytes(150000):strip_icc():format(webp)/Bloody-Mary-Classic_Tim_Nusog_4000x4000_primary-68db8a83de544d8ba566accfa13a55e4.jpg)
PS : Yours
truly recently purchased Rs200/Kg tomatoes this season thrice already.
PS2: TMT – stands
for tomatoes, PA – Parag Agrawal , would be good to have your name immortalized
as part of this section.
