Union Budget 2018: Personal Income Tax rates unchanged; Rs. 40k standard deduction
Standard deduction of tax for salaried class: A standard deduction of Rs 40,000 for salaried taxpayers. Arun Jaitley proposed to cut corporate tax to 25 percent for firms upto Rs 250 crore annual turnover. Tax Rate unchanged for Individuals. Propose to tax long term capital gains exceeding Rs 1 lakh at 10% without indexation
Personal Income Tax rates unchanged; Rs. 40k standard deduction in lieu of present exemption Government has made many positive changes in individual tax rates in past three years, therefore no change this year: Arun Jaitley on income tax. 12.6% growth in direct taxes in FY18, says Finance Minister Arun JaitleyStandard deduction of Rs 40,000 for salaried employees in lieu of transport and medical expenses: FM Jaitley #UnionBudget2018 — ANI (@ANI) February 1, 2018
