Govt Mulls Personal Income Tax Cut To Lift Consumption
Hindustan Times Navi Mumbai|December 27, 2024
India is considering cutting income tax for individuals making up to ₹15 lakh ($17,590) a year in February's budget to provide relief to the middle class and boost consumption as the economy slows, two government sources told Reuters.
Reuters

NEW DELHI:

The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals.

Under that system, annual income of ₹3 lakh to ₹15 lakh is taxed at between 5% to 20%. Higher income draws 30%.

هذه القصة مأخوذة من طبعة December 27, 2024 من Hindustan Times Navi Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 27, 2024 من Hindustan Times Navi Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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