Breaking No Income tax upto 5 LAKHS annual income

[Viki]

Is this 87A is new? No.

87A is there in 2013 (during Manmohan period too , may be even before).

In FY 2016-17 the rebate is ₹ 5000 ,for tax slab up 5 lacல்

In FY 2017-18 , 18-19 Modi Govt changes that to 3 lac slab and reduced rebate to ₹ 2,500.

Now again in , FY 19-20 changing again to 5 lac slab , increased the rebate to 12,500.

 

[sadik]

Pls provide the video of 15 lakhs or eslr delete ur post. U also lie

every one know this bro , u can now.also want proof of 2c jobs , black money , petrol Diesel prices , smart cities , bullet train etc etc non of thing happen in ground it just called jumlla and remember amit shaha also said that 15l statement is just for election that is jumla . So don't ask for.proof

 

[Digital Mastermind]

every one know this bro

@Bapun Raz bro has posted video in a thread where it's clearly proved that no 15laks were promised.

Those who fell for the opposition jumlas either are weak in understanding Hindi or just for sake of opposing Modi giving false statements

 

[nanduking2]

We r in democracy....so everyone has there own views.... someone hate BJP, someone Congress...someone both...so no need to give proof are whatever, they will still hate...it's just waste of time, debating between us.....

Just show your power by giving valuable votes....Vote is must guys even if it is NOTA...

 

[M.J.Sadiq]

Whether my assumption below is correct with this new announcement.

An employee is earning net salary of 4.8 lakhs per annum after deducting all default deductions like PF. Is it correct?

If yes is the answer, then if he gets increment of 21000 and that sums up to 5.01 lakhs net salary per annum. Now he has to py tax for 2.51 lakhs which is around 12500 rupees. Correct? So net additional earning of him will be 8500 only? He has to sacrifice more than 50% of increments as tax?

 

[Endgame]

Whether my assumption below is correct with this new announcement.

An employee is earning net salary of 4.8 lakhs per annum after deducting all default deductions like PF. Is it correct?

If yes is the answer, then if he gets increment of 21000 and that sums up to 5.01 lakhs net salary per annum. Now he has to py tax for 2.51 lakhs which is around 12500 rupees. Correct? So net additional earning of him will be 8500 only? He has to sacrifice more than 50% of increments as tax?

Little miscalculation.
This year, he's paying 11500 (5% of 2.3 L).
Next year, he'll be paying 12700 (5% of 2.5 L & 20% of 1K). His actual increment is 19800.
But if he gets 20000 increment, then he'll be benefited most. No tax, his actual increment would be 31500 (20000+11500).

 

[id_866]

Govt got huge earnings by imposing GST.This is just trick to get vote.I am sure people will be very careful before voting.

 

[Digital Mastermind]

Govt got huge earnings by imposing GST.This is just trick to get vote.I am sure people will be very careful before voting.

Budget is not like your pack selection which u can change daily.

 

[piinku1]

Govt got huge earnings by imposing GST.This is just trick to get vote.I am sure people will be very careful before voting.

Agreed. Even it can't bring tax benefit to a Govt. Group-B employee.
Forget about corporates

 

[M.J.Sadiq]

Little miscalculation.
This year, he's paying 11500 (5% of 2.3 L).
Next year, he'll be paying 12700 (5% of 2.5 L & 20% of 1K). His actual increment is 19800.
But if he gets 20000 increment, then he'll be benefited most. No tax, his actual increment would be 31500 (20000+11500).

Bro, my assumption is starting from next year and increments at the end of next year.