Budget Highlights

 

BUDGET HIGHLIGHTS ( ref. by media)

  • No Income Tax for income up to ₹5 lakh
  • Individuals with gross income of up to ₹6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities
  • Standard tax deduction for salaried persons raised from ₹40,000 to ₹50,000
    TDS threshold on interest on bank and post office deposits raised from ₹10,000 to ₹40,000
  • TDS threshold on rental income increased from ₹1.8 lakh to ₹2.4 lakh
    I-T processing of returns to be done in 24 hours
  • Within next 2 years all verification of tax returns will be done electronically without any interface with the tax payer

Leave a Comment

Latest News

STAY TUNED WITH US

Get our updated offers, discounts, events and much more!