Budget 2022: No change in personal income tax rates

Gordon B. Johnson

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Belying expectations, Finance Minister Nirmala Sitharaman did not tinker with the personalized revenue tax rates in the Finances for 2022-23.

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The minister also did not elevate conventional deduction, which was extensively anticipated in check out of elevated inflation levels and effects of the pandemic on the middle course.

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The standard deduction currently stands at Rs 50,000.

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There was no transform income tax slabs in the individual income tax category in the Funds unveiled on Tuesday.

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The company tax rate also was held at the exact same level. Having said that, concessional fee of 15 for every cent has been prolonged by a single yr for newly integrated producing models.

(Only the headline and picture of this report may well have been reworked by the Company Normal employees the relaxation of the content material is car-created from a syndicated feed.)

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