Budget 2009: New tax-saving scheme to be unveiled

The government is believed to be mulling over a new tax-saving scheme to garner 'idle money' lying with households and elsewhere in the system, primarily to fund building infrastructure.

The scheme could offer tax benefits for investments up to Rs 500,000 and be instrumental in partly meeting the country's infrastructure funding needs, which have been pegged at as high as $750 billion, sources said.

Also see: Tax sops for the salaried in Budget 2009!

Text: PTI

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