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% and 20%. Higher income draws 30%.
This story is from the December 27, 2024 edition of Mint Hyderabad.
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This story is from the December 27, 2024 edition of Mint Hyderabad.
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