Discussion New Proposals for Income Tax slabs.

[venky]

Income tax task force has proposed a new slab structure for income tax. If it is implemented, then would be a huge relief for the working class. There won't be any change in the rebate system.

Proposed Slab suggestions:

Up to ₹2.5 lakh - Exempted
Up to ₹5 lakh - 5% (rebate up to ₹12,500)
₹5 lakh to ₹10 lakh - 10%
₹10 lakh - ₹20 lakh - 20%
₹20 lakh to ₹2 crore - 30%
₹2 crore and above - 35%

The next concern will be that how the tax amount difference will be handled by the government as lowering tax slabs will make a big margin.

Source: Livemint

 

[Dhanasekar]

this does not help the middle class. cheating by BJP