Indiaherald Group of Publishers P LIMITED

close save
crop image
Mon, Feb 18, 2019 | Last Updated 9:41 pm IST

Menu &Sections


Arun Jaitley to increase Income Tax Slabs Tax Rate

Arun Jaitley to increase Income Tax Slabs Tax Rate
Arun Jaitley to increase Income Tax Slabs Tax Rate

Accordingly Finance Minister Arun Jaitley might make a move to the income tax exemption threshold to the salaried, which is as of now Rs 2.5 lakh to Rs 5 lakh, which would be a huge relief to the middle class. Furthermore resuming tax free status for medical expenses and transport allowance, this move is being made to provide relief to this class, which was probably the worst hit by demonetization.

Presently the BJP government is scared of a backlash from the middle-class voters in the upcoming general elections. Reportedly to avoid this blow back, the BJP is planning to streamline tax slabs. Reports added the problem which might crop up is that the Union Budget will be placed for discussion after the unveiling of the Direct Tax Code Report on February 28. Hence amending the tax rates before the release of the Budget might make it contentious.

Arun Jaitley to increase Income Tax Slabs Tax Rate

Further as of now, income up to Rs 2.5 lakh is exempted from personal income tax and income between Rs 2.5-5 lakh draws 5% tax, income between Rs 5-10 lakh is levied with 20 % tax. Income above Rs 10 lakh is taxed at 30 %. Moreover an exemption of Rs 5 lakh is only provided to individuals of above 80 years.

Arun Jaitley to increase Income Tax Slabs Tax Rate
5/ 5 - (1 votes)
Add To Favourite
More from author
EPS spends 15 crores on ads!
Chinnathambi locked in cage!
No to BJP says Sarathkumar!
Student thanks minister for slipper
Madras HC orders for no flex boards for Jayalalitha's Birthday
From March 3, eateries no longer allowed to reuse cooking oil more than 3 times
New deadline for commissioning Kerala's Vizinjam Port extended to October 2020
COAI feels new regulations are vague to violate privacy of users
BJP to make alliance announcement soon: Piyush Goyal
Priyanka Chopra, Nick had great time on Valentines Day
Dewan Housing Finance shares slumped to an intraday low of Rs. 103.95
Ooty Lake to be cleaned soon
Air India flights to Iraq begins operations after 30 years
Dhanush congratulated Sai Pallavi for beating her own record saying 200 Million
Protest shutdown against terror attack affects life in Jammu
Telangana Municipalities good news for Families below poverty line
CRPF Jawans victimized in Jammu & Kashmir
Surprise Gift to Rahul Gandhi on Valentines Day
 2 alliances in India, one under Rahul Gandhi and a 'gatbandhan' which has no leader: Amit Shah
Arya & Sayyeshaa getting engaged to each other
Dinesh Karthik reveals reason for loss!
Forest department eyeing Chinnathambi!
Kamal Hassan praises woman!
Captain Vijayakanth coming soon!
Trump still adds to sources not requiring congressional approval
New inmate into TDP from MLA Nandamuri Balakrishna's Family
Will Anti Corruption Bureau in Delhi be controlled as per instructions from SC?
KCR Govt plans to illuminate Charminar with 190-watt LED light
When will Tamilnadu Districts be upgraded as Corporations?
Know how to hide Caller ID when making call to Uber Driver
Is there any delay in conducting 3rd season of Telugu Bigg Boss?
Election work inspected for Telangana by CEC
Rhode Island Governor lauded Infosys for training its graduates for digital jobs
We worked 100% for upliftment of country: PM Narendra Modi
PM Narendra Modi's next visit to AP by February end
Deepika Padukone's gift to Ranveer on Valentine's Day
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.