The Financial Year 2014-15 saw two budgets being presented in India within a span of 7 months , one for 2014-15 in July 2014 and the other for 2015-16 in Feb 2015 . While both the budgets have not altered the fundamental structure of personal taxation, the subtle incremental changes brought about by the two have ensured that employees who invest in accordance with the changes can benefit anywhere between INR 17500 to INR 52000 in FY 2015-16 as compared to FY 2013-14 depending on the tax brackets that they fall under. This document summarizes the changes and its implications for employees and provides a few pointers on what could be done by employers and Human Resource Professionals to modify the compensation structure of employees and also facilitate prudent financial management by their employees.