Skip to content
Northwest Trail

Northwest Trail

  • Vibrant Vibes: A Guide to Customizing Your Discord Color Scheme Technology
  • As a result of a birth injury, a mother decided to start a parenting podcast Health
  • Reshaping Of Body Tissues Using Molecular Surgery With No Scars And Incisions Health
  • Packaging Robots Advantages, Types and Overview Of The Market Business
  • WHO Chief Warns About Coronavirus Cases Outside China News
  • Covid-19 Market Analysis of Predictive Analytics Technology
  • Who Are the Best and Worst Presidents of America? News
  • A smart contact lens prototype with a Micro LED display News

Income Tax Slab For Salaried Class Remain Unchanged

Posted on February 22, 2018 By MartinSmith No Comments on Income Tax Slab For Salaried Class Remain Unchanged

Income Tax Slab For Salaried Class Remain Unchanged

Tax base does not expand but a consolation of Rs 40,000 exemption

Indian tax payers do not get much hope from this year’s Union Budget.  The budget was presented on 1st February and Finance Arun Jaitley did not bring any change in the income tax slab. As per the minister over the last 3 years, there was much tax relief provided to the salaried individuals of the country and this year is going to be an exception.

See also  The Different Types of ETFs in Singapore

However every individual will get a standard exemption of Rs 40,000 as a part of medical and transport reimbursement. DK Srivastava stated that though citizens had many expectations from the Union Budget, the government was not able to provide much relief in the tax base because of its stringent target of fiscal deficit reduction. He also feels that the rise in the price of crude oil played a pivotal role in the unaltered income tax rates.

Last year few of the expectations of the salaried class were fulfilled by Arun Jaitley by reducing the tax rate from 10% to 5% for income levels between Rs 2.5 lakh and 5 lakh per annum. As per the current norms, every tax payer needs to pay tax as per the rate if his/her salary exceeded the exemption limit. There has been a change in the capital gain tax this year.

See also  At An Average, 1 Bank Staff Held For Fraud In Every 4 Hour

The minister announced that tax will be levied on capital assets which have been owned for at least 10 years and has a minimum value of Rs. 10,000. Capital gains refer to the profits which a person enjoys from the sale of a capital asset. This tax is charged in the year in which the asset is sold, it there is no tax levied on the product when it is inherited. This refers to the assets which are received as gifts or from one family member to the other in form of inheritance.

See also  Solid Life Insurance Advice to Help You Protect Your Family

###

Finance

Post navigation

Previous Post: Chief Of US Air Force To Fly Tejas, The Indian Made Aircraft
Next Post: Apple Has Very Important Message For Users Of iPhone 7

Related Posts

  • Solid Life Insurance Advice to Help You Protect Your Family Finance
  • PNB Fraud To Be The Mainstay During Parliament Session In March Finance
  • Parasite’ hauls in $8.8 million at the box office after historic Oscar win Finance
  • Types of ETFs in Singapore
    The Different Types of ETFs in Singapore Finance
  • Dubai Marina
    Unveiling the Path to Mastering Value Investing in the UAE Finance
  • At An Average, 1 Bank Staff Held For Fraud In Every 4 Hour Finance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Automobile
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Internet
  • News
  • Sports
  • Technology
  • Uncategorized
  • Vacuum Belt Dryer Market Forecast: Strategic Insights and Future Trends 2032
  • Vegetable-Oil-Based Cutting Fluids Market Landscape: Trends, Innovations, and Projections 2032
  • Tooth Regeneration Market Dynamics: Key Drivers and Challenges 2024
  • Construction Materials Market: Trends, Analysis, and Future Outlook 2032
  • Offshore Wind Energy Market Size Overview 2024
  • Offshore Wind Energy Market Size Overview 2024 Business
  • Nuro Reveals Autonomous Delivery Van Automobile
  • Studying a New Therapy for Bladder Cancer Chemoimmunotherapy Response Health
  • Reshaping Of Body Tissues Using Molecular Surgery With No Scars And Incisions Health
  • Chief Of US Air Force To Fly Tejas, The Indian Made Aircraft Automobile
  • Global Honey Market Size And Share Overview 2024 Business
  • According to a research, children who are permitted to watch a lot of television are more likely to be misbehaved Health
  • Vegetable-Oil-Based Cutting Fluids Market Landscape: Trends, Innovations, and Projections 2032 Business

Copyright © 2025 Northwest Trail.

Powered by PressBook News WordPress theme