The hopes of every Indian soar during budget season. From the man on the street to the corporate bigwig, everyone has expectations. Everyone wants a benevolent tax regime. The wish-list is long and the Finance Minister (FM) cannot fulfil them all. There are some key expectations about direct taxes. These may provide some relief to the individual taxpayer. Some may also fill government coffers.
Here are five basic tax announcements to watch out for on 1 February 2017: