Many exemptions make little sense, such as a monthly exemption of Rs.100 for college education and Rs.300 for hostel fees If an employee is not paid any house rent allowance, he will get atax exemption of up to Rs. 2,000. “The number was quite decent for a small house in the 1990s but means nothing today. Even in a smaller city, the monthly rent is as high as Rs.5,000. And, in cities such as Mumbai, Delhi or Bengaluru, even if one shares the room with several people, this amount would fall short,” says Rakesh Rai, an employee with a telecom company. With the Union Budget approaching, Finance Minister Arun Jaitley will be inundated with requests from all sections. Everyone would want sops. If the minister would simply enhance the existing limits for many outdated exemptions, consumers would stand to gain immensely . While the finance minister made some good changes in the previous Budget, the net impact on the taxpayer was quite limited. For example: The 80C limit was increase