Budget 2018: Increase tax exemption limit to Rs 300,000, says SBI report

Income Tax Budget 2018 India

The government has periodically increased the income tax slabs from Rs 22,000 in 1990-91 to Rs 2.5 lakh in 2014-15


BUDGET NEWS :   With upward thrust in non-public disposable profits submit 7th Pay fee, the earnings tax exemption restrict desires to be raised through Rs 50,000 to Rs three hundred,000 a SBI record stated today.

The circulate will gain round 75 lakh humans, it stated.

The SBI's Ecowrap record similarly said that if the exemption restriction of interest bills below housing mortgage is increased to Rs 250,000 for existing home loan shoppers, from Rs 2 hundred,000 now, it will benefit seventy five lakh home loan consumers and price the authorities pretty much Rs seventy five billion.

Finance Minister Arun Jaitley is set to provide the 5th and very last complete price range of the modern government on February 1.

The government has periodically expanded the profits tax slabs from Rs 22,000 in 1990-ninety one to Rs 2.5 lakh in 2014-15.

"due to 7th pay commission, the private disposable earnings has been extended, so we consider there is a want to elevate the exemption restrict to Rs three hundred,000. because of such boom in restriction, around seventy five lakh tax payers might be exempted from profits tax," stated the file -- 'Union price range: If wishes had been horses!'.

CLICK HERE TO READ MORE :  UNION BUDGET 2018

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