NewsPoliticsEntertainmentSportsHealth & LifestyleEconomy

Big Relieaf to Middle-Class earners... Know the new Incom tax rules

<p>During the ongoing Budget briefing by Union Finance Minister Nirmala Sitaraman, there is a sight of Relief for all Middle-class earners across the country&#8230;  As the country&#8217;s major population is middle class, thinking about the middle-class citizens of the country the government has now made certain changes in the tax paying i.e Income tax department.Must Read : After Tunisha, Avneet Kaur to play Shehzaadi Mariam in Ali baba-Daastan-E-Kabul?This now means that a person earning less than or 3 lakhs per annum he/she will now be excluded from paying Income tax annually, on the other hand, the person earning 3-6lakhs a year would be paying 5% of their income to the government, a person earning between 6-9 lakhs would be now paying 10% of their annual income, the one who is earning 12-15 lakhs would be paying 20% and so a person wearing above 15 lakhs would be paying 30% of their income.Further talking about the tax paying system, the Union Finance Minister said,&#8221;the Budget for 2023-24 </p>
02:00 PM Feb 01, 2023 IST | mediology

During the ongoing Budget briefing by Union Finance Minister Nirmala Sitaraman, there is a sight of Relief for all Middle-class earners across the country…  As the country’s major population is middle class, thinking about the middle-class citizens of the country the government has now made certain changes in the tax paying i.e Income tax department.

This now means that a person earning less than or 3 lakhs per annum he/she will now be excluded from paying Income tax annually, on the other hand, the person earning 3-6lakhs a year would be paying 5% of their income to the 
government, a person earning between 6-9 lakhs would be now paying 10% of their annual income, the one who is earning 12-15 lakhs would be paying 20% and so a person wearing above 15 lakhs would be paying 30% of their income.
Further talking about the tax paying system, the Union Finance Minister said,”the Budget for 2023-24 hopes to build on the foundation of the previous budget and blueprint for India@100. This is the first Budget in Amrit Kaal.”

Watch : 
OTTIndia updates you with the latest news, Country’s no.1 digital news platform OTTIndia, Keeps you updated with national, and international news from all around the world. For more such updates, download OTTIndia app on your Android and IOS device.
Tags :
breakingbudgetincomtaxmiddleclasspeoplenewsNirmalasitaramanOTTindiataxtrendingnewsunionbudgetunionbudget2023unionfinanceminister
Next Article