Tax exemption limit for salaried class likely to increase to Rs900,000
MG News | June 12, 2024 at 04:32 PM GMT+05:00
June 12, 2024 (MLN): The upcoming budget for FY25 might bring good news for the salaried class with a likely increase in the tax exemption limit.
According to reports, the current tax exemption threshold of Rs 600,000 per annum could be raised to Rs 900,000.
This adjustment would provide significant tax relief to salaried individuals, allowing for more disposable income and potentially boosting consumer spending and saving rates.
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