No tax liability if your income is up to Rs 9.5 lakh, but conditions apply

1. No tax liability if your income is up to Rs 9.5 lakh, but conditions apply Standard deduction has also been raised from Rs 40,000 to Rs 50,000, besides a host of tax benefits to home buyers Focusing on that Tax concessions have been given a view to support poor and white collar class individuals living on a tight spending plan, Finance Minister Piyush Goyal on Tuesday said that now

2. people procuring up to Rs 9.5 lakh can escape risk by exploiting sparing plans. Answering to the discussion on the Finance Bill in Lok Sabha, the Minister said he didn't propose any adjustment in the Tax rate however just given couple of refunds which will support spending and help the economy. The Finance Bill, which contains charge proposition, was passed by the Lok Sabha with a voice vote, finishing the budgetary procedure in the lower house. In a swipe at the Congress, the Minister said that dissimilar to the past UPA administration, the present Modi government in the meantime spending plan did not decrease tolls of SUVs which are utilized by rich people. In the Finance Bill 2019, the Minister proposed to raise Tax refund for individuals having yearly pay up to Rs 5 lakh from Rs 2,500 to Rs 12,500, which will adequately guarantee that they don't need to settle any government expense. In the Bill, standard conclusion has likewise been raised from Rs 40,000 to Rs 50,000, other than a large group of tax breaks to home purchasers. Continue Reading