New Delhi: Modi government may give a big gift to family (family) pensioners in the budget to be presented next month. The annual exemption limit for family pension holders can be increased to Rs 50 thousand. According to information received from sources, the Ministry of Labor has sent a proposal to give relief in this regard to the Finance Ministry. It is being told that after the final approval of this proposal, it can be included in the budget.
At present, one third of the amount of pension received by the dependents or the amount of 15 thousand rupees, whichever is less, only gets tax concession. Its eligible person also does not get the benefit of standard deduction under the head of family pension. This is the reason why the government is considering giving a concession equal to standard deduction on pension received to dependents.
The government can provide major relief in the long-term capital gains tax (LTCG) in the budget. According to sources, the government may reduce the effective rate of LTCG to zero with the inclusion of certain conditions in the budget. It also includes investments in mutual funds and real estate. According to sources, the LTCG is being considered to extend the time limit of one year to three years. Only 15 percent LTCG can be provided for a year. While 10% can be kept for one to three years.
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