The Budget for the fiscal year 2023/2024, which begins on July 1 to June 30 next year, is expected to establish President William Ruto’s bottom-up economic model amid a tough economic setting clouded with high cost of living and pressure to repay other maturing debts. Related What’s the...
The standard deduction that was allowed was equivalent to Rs 30,000 or 40% of the income, whichever was lower, for salaried employees earning an annual income between Rs 75,000 and Rs 5 lakh. There was also a limit set for standard deducti...
173. While the Government is trying to bring within tax-net more people who are evading taxes, the present burden of taxation is mainly on honest tax payers and salaried employees who are showing their income correctly. Therefore, post-demonetisation, there is a legitimate expectation of this cl...
SALARIED CLASS TO PAY NIL INCOME TAX UPTO ₹ 12.75 LAKH PER ANNUM IN NEW TAX REGIME UNION BUDGET RECOGNISES 4 ENGINES OF DEVELOPMENT – AGRICULTURE, MSME, INVESTMENT AND EXPORTS BENEFITTING 1.7 CRORE FARMERS, ‘PRIME MINISTER DHAN-DHAANYA KRISHI YOJANA’ TO COVER 100 LOW AGRICULTURAL PRODUCTIVIT...