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Modi to raise tax exemption limits!
The Indian government is planning some new year gifts to the low income households. Regarding this, if the sources are to be believed, the Centre is planning to hike the tax limit from Rs. 2.5 lakhs to Rs. 4 lakhs.
The expected slabs may stand like
Tax- Income Tax Slab (in lakhs)
0%- Till 4 lakh
10%- 4 to 10
15%- 10 to 15
20%- 15 to 20
30%- Over 20
The official announcement of the same is expected to be out during the upcoming budget session. If it turns true, its surely a great relief to the citizens, specially after the demonetization, where the normal public is facing the cash crunch.
