New Delhi, Feb 1
Finance Minister Nirmala Separaman, according to the mid-classes, has announced the great relief to the middle class to fully tax relief of Rs 12 lakh. After this exemption will only be found under the new tax management. People will now have no tax on employment of Rs. 75,000 with a standard deduction (SD). The Finance Minister said that the tax exemption would increase the mid-class people where investments and savings will also increase the maximum money. Under this new arrangement, the rupee of Rs. 12 lakhs will be saved at a revenue of Rs 12 lakh and Rs. 18 lakhs of Rs. 18 lakhs and Rs 18 lakh per annum.
The finance minister has been able to make a change in tax drab, under which a annual income of Rs four lakh would take a year. ਚਾਰ ਤੋਂ ਅੱਠ ਲੱਖ ਰੁਪਏ ਤੱਕ 5 ਫੀਸਦ, 8 ਤੋਂ 12 ਲੱਖ ਤੱਕ 10 ਫੀਸਦ, 12 ਲੱਖ ਤੋੋਂ 16 ਲੱਖ ਰੁਪਏ ਤੱਕ 15 ਫੀਸਦ, 16 ਲੱਖ ਤੋਂ 20 ਲੱਖ ਰੁਪਏ ਤੱਕ 20 ਫੀਸਦ, 20 ਲੱਖ ਤੋਂ 24 ਲੱਖ ਤੱਕ 25 ਫੀਸਦੀ ਅਤੇ 24 ਲੱਖ ਤੋਂ ਉੱਤੇ An annual 30 per cent tax will. A direct tax exemption has a burden of Rs. One lakh crore on the exchequer. -Ptyti