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Should exemption limits under Income-tax Act be linked with cost inflation index for automatic periodical increase?

April 26, 2017ACT automatic COST Income-Tax index inflation limits linked periodical

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Should exemption limits under Income-tax Act be linked with cost inflation index for automatic periodical increase?

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and collected by the central government and shared with the states.According to Income Tax Act 1961, every person, who is an asses see and whose total income exceeds the maximum exemption limit, shall and whose total income exceeds the maximum exemption limit, shall be chargeable to the income tax at the rate or rates prescribed in the finance act.