Union Budget 2018-19: Know the reason to Rejig the tax exemption slab from 2.5 Lakhs to 3 Lakhs.
Union Budget 2018-19: Know the reason to Rejig the tax exemption slab from 2.5 Lakhs to 3 Lakhs.
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The last Union Budget 2018-19 of Modi-led Govt will present on February 1st, 2018 and in its final attempt, the NDA-led central government is expected to rejig the tax exemption slab from the current 2.5 Lakhs to 3 Lakhs.

In Budget 2017, Finance Minister gave relief to the middle-income group by lowering the tax rate from 10% to 5% for the income tax slab ₹2.5 Lakh - ₹5 Lakh. However, the Finance ministry is taking consideration on introducing more changes in Union Budget 2018.

The focus of Union Budget 2018 seems to be around agriculture and salary-classed-income group and here is the reason why FM is likely to lift Income Tax Exemption Limit from ₹2.5 Lakh to ₹3 Lakh

Union Budget 2018-19 will be prepared by Finance Minister Arun Jaitley and his team considering the 2019 General Elections. Therefore, the Modi--led - the government will try to make this a packed budget through without tenderness of its fiscal shortfalls which are already exaggerated because of passive indirect tax collection after introducing of GST on 1st July 2017.

Rejiging the tax exemption slab from 2.5 Lakh to 3 Lakh will be a safe stake for the Finance Minister to hit the balance.

 

 

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