Mumbai: The demand for smartphones, laptops and tablets in the country is expected to increase in the country due to Finance Minister Nirmala Sitharaman’s announcement of increase in income tax relief limit in the budget. This relief is expected to increase the purchasing power of taxpayers, especially young taxpayers.
It is being said that taxpayers, especially young taxpayers, will save more money to spend more money on electronic devices like smartphones, laptops and tablets, especially young taxpayers.
More money will be available for spending in the hands of taxpayers, which will increase the demand demand. An official of the India Cellular and Electronics Association said, “The younger generation is generally more interested in buying electronic goods.”
A tax expert said that since income up to Rs 12 lakh has been freed from tax, now TDS will not be deducted from taxpayers up to this amount, which will also benefit the taxpayer. The purchasing power of the taxpayer will increase.
The tax relief given on income up to Rs 12.75 lakh in the new tax system will benefit the middle class and their consumption expenditure will increase.
Income tax relief will provide an additional Rs 1 lakh crore in the hands of taxpayers, which is estimated to be about 10 percent of the individual income tax collection in the financial year 2025. In recent times, consumption demand in urban areas has been sluggish in recent times, now it is expected to increase.
Urban areas, especially the first and second class cities, have a large number of high -income youth. The marketing manager of an FMCG company said that the demand from this segment will increase.
