The impending 2018-19 budget may bring cheers on the faces of middle-class as the finance ministry is planning to increase the personal tax exemption limit and tweak the tax slabs. According to the sources, the tax exemption limit might be raised from the existing Rs 2.5 lakh per annum to at least Rs 3 lakh per annum.
“Considering the steep rise in the cost of living due to inflation, it is suggested that basic limit for exemption and other income slabs should be enhanced to give benefit to the low-income group. The income trigger for peak rate in other countries is significantly higher,” industry chamber CII said in its pre-Budget memorandum to the finance ministry.
In the new budget that will be unveiled on February 1, the government might reduce the tax rate by 10 percent on income between 5-10 lakh, levy 20 percent rate for income between Rs 10-20 lakh and 30 percent for income beyond Rs 20 lakh.At present, there is no tax slab for income between 10-20 lakh.
Bhavana ties the knot with Naveen
Actress Bhavana tied the knot with her long time boy friend Naveen on Monday morning. The wedding celebration took place at the Thiruvambadi temple in Thrissur. Read More
Bhavana’s mehendi pics are out!
Actress Bhavana is all to tie the knot with her longtime beau Naveen in Thissur on January 22. Now, social media handles are being flooded with the pre-wedding pictures. Here...
Ola and Uber to merge with Softbank?
It seems the end of the road for Ola and Uber, the biggest online cab aggregators in India. Rajeev Misra, the board member of Softbank's comment triggered a big speculation...
Chandrababu Naidu: Will try to sort out issues with Centre
On Sunday, Andhra Pradesh Chief Minister N. Chandrababu Naidu said that AP government would try till the last minute to sort out issues with the Centre. Mr. Naidu added that...
Here is the complete list of those who won big at the 63rd Jio Filmfare Awards 2018.
Best Film: 'Hindi Medium' Critics' Award for Best Film: 'Newton' Read More
Sunny Leone to get wax statue at Madame Tussauds Delhi
Bollywood actress Sunny Leone’s wax figure will be installed at the Madame Tussauds museum in Delhi. A statement in connection with the same said that the statue will be displayed...