Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

MPS Preview: High for Longer

Senate Standing Committee on Finance Opposes Incentives given to Salaried Class

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Senate standing committee on finance opposed the income tax relief given to salary class and instead proposed:

  • Increase in tax rate to 25% from 15% for salary class earning above Rs 48 lakh
  • Increase in tax rate to 15 % from 10% on salary slab of 24 to 48 lakh
  • Increase in tax rate to 10 % from 5% on salary slab of 12 to 24 lakh
  • Tax rate of Rs 2000 on salary slab of 8 to 12 lakh
  • Tax rate of Rs 1000 on salary slab of 4 to 8 lakh
Posted on: 2018-05-08T14:16:00+05:00