Union Budget: Major relief, now no tax upto Rs 5 lakh income, other sops too
Interim Finance Minister Piyush Goyal begun presenting Prime Minister Narendra Modi-led government’s sixth and interim Budget.
In a major budget relief to middle class, Tax exemption slab has been rises to to 5 Lac annual income. Piyush Goyal announces that taxpayers having annual income up to Rs 5 lakh will get full tax exemption.
Meanwhile, Goyal also announced that individuals with gross income up to Rs 6.5 lakh will not need to pay any tax . Presenting the interim budget , Goyal announced that the standard tax deduction for salaried persons has also been increased from Rs 40,000 to Rs 50,000.