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No change in personal income tax rates in Budget
PTI, Feb 1, 2022, 1:13 PM IST
Belying expectations, Finance Minister Nirmala Sitharaman did not tinker with the personal income tax rates in the Budget for 2022-23.
The minister also did not raise standard deduction, which was widely anticipated in view of elevated inflation levels and impact of the pandemic on the middle class.
The standard deduction currently stands at Rs 50,000.
There was no change income tax slabs in the personal income tax category in the Budget unveiled on Tuesday.
The corporate tax rate too was kept at the same level. However, concessional rate of 15 per cent has been extended by one year for newly incorporated manufacturing units.
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UP bypoll: CM credits Modi for BJP’s win, says INDIA bloc’s ‘loot and lies’ politics coming to end
Maharashtra victory a win for development, says PM Modi, congratulates JMM alliance in Jharkhand
Royal tour of India in offing for King Charles, Queen Camilla: Report
Cost and debt rising, yield stagnant: SC panel on agri distress; suggests examining MPS, other measures
SP chief Akhilesh Yadav terms UP bypolls as ‘most distorted form of electoral politics’
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