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The last budget had seen major relief for Indians in the lower end of the taxable bracket. There was a tax credit of Rs 2000/- for those with annual income not exceeding Rs 5,00,000/- per annum. At present, income tax slab is applicable only for individuals whose income is more than Rs 2,00,000/- per annum.
The interim budget is to be presented soon by the Central Government of India. This falls two months ahead of the general elections for the country. The main budget will be presented in two months by the new government which will come to power after the general elections.
Any concession in personal income tax will give relief to the salaried class. The salaried class in India faces the difficulties of high inflation since the last few years.It will be a good en devour by the government in favor of the salaried classes in the event that the personal tax concessions are given.
The last budget had seen major relief for Indians in the lower end of the taxable bracket. There was a tax credit of Rs 2000/- for those with annual income not exceeding Rs 5,00,000/- per annum. At present, income tax slab is applicable only for individuals whose income is more than Rs 2,00,000/- per annum.
The interim budget is to be presented soon by the Central Government of India. This falls two months ahead of the general elections for the country. The main budget will be presented in two months by the new government which will come to power after the general elections.
Any concession in personal income tax will give relief to the salaried class. The salaried class in India faces the difficulties of high inflation since the last few years.It will be a good en devour by the government in favor of the salaried classes in the event that the personal tax concessions are given.
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