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#726284
Fri 21 Jun 2024 08:32:AM
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Joined: Feb 2001
Posts: 381,904
Launch Director
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Launch Director
Joined: Feb 2001
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Officials in the Ministry of Finance are discussing proposals to reduce taxes for high-spending consumers. Individuals earning between 500,000 rupees ($5,987) and 1.5 million rupees, currently taxed at rates from 5% to 20%, may benefit from this move. The introduction of a new tax slab is also under consideration. The details are still being finalized, with a decision expected near the budget announcement in July, pending approval from the PMO. Despite potential revenue losses, the government aims to maintain its fiscal deficit target of 5.1% of GDP for the current financial year. Source: Govt mulls income tax cuts, new slab to boost consumption
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Govt mulls income tax cuts, new slab to boost consumption
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Fri 21 Jun 2024 08:32:AM
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