Stradlater Posted February 1, 2019 Posted February 1, 2019 Gratuity limit increased from 10 lakh to 30 lakh. Govt contribution to NPS increased to 14% from 4%. 3000 rupees assured pension for unorganized sector workers. UrmiSinhaRay 1
Stradlater Posted February 1, 2019 Author Posted February 1, 2019 Income tax exemption limit doubled to 5 lakh per year.
nikred Posted February 1, 2019 Posted February 1, 2019 Income tax exemption limit doubled to 5 lakh per year. Is that it? No other changes in the tax slab? Sent from my Redmi Note 4 using Tapatalk
Stradlater Posted February 1, 2019 Author Posted February 1, 2019 25 minutes ago, nikred said: Is that it? No other changes in the tax slab? Sent from my Redmi Note 4 using Tapatalk Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities. Also Standard deduction has been increased to Rs 50,000 from Rs 40,000.
nikred Posted February 1, 2019 Posted February 1, 2019 Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities. Also Standard deduction has been increased to Rs 50,000 from Rs 40,000.Yes, just saw about the 6.5 lakh one. But I missed the standard deduction part. Cool [emoji106]Sent from my Redmi Note 4 using Tapatalk
Stradlater Posted February 1, 2019 Author Posted February 1, 2019 Defence budget crossed Rs 3 lakh crore for first time.
R!TTER Posted February 1, 2019 Posted February 1, 2019 Just now, nikred said: Is that it? No other changes in the tax slab? Sent from my Redmi Note 4 using Tapatalk This is actually a major windfall for vast majority of middle class, now what about the upper class Any news if crorepatis getting more tax breaks
FischerTal Posted February 1, 2019 Posted February 1, 2019 58 minutes ago, Stradlater said: Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities. Also Standard deduction has been increased to Rs 50,000 from Rs 40,000. i think they didn't change the threshold income. if you have less than 5 lakh taxable income you get rebate. above that, you will still pay the same amount of tax as before.
jusarrived Posted February 1, 2019 Posted February 1, 2019 3 hours ago, FischerTal said: i think they didn't change the threshold income. if you have less than 5 lakh taxable income you get rebate. above that, you will still pay the same amount of tax as before. Everyone play 12.5 K less per year , but the middle class ( Higher middle class who call themselves as middle class ) will still cry .
Number Posted February 1, 2019 Posted February 1, 2019 Good benifits for those earning upto 7-7.5 lpa. UrmiSinhaRay 1
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