Budget 2022 News: No change in Income Tax slabs, standard deduction - All you need to know
There was no change income tax slabs in the personal income tax category in the Budget unveiled on Tuesday.
Budget 2022 Income Tax News: 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.
(With PTI inputs)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI Senior Citizen FD Interest Rates 2024: What Rs 2 lakh, Rs 4 lakh, and 6 lakh, and Rs 8 lakh investments will give you in 1-, 3-, and 5-year FDs
Odisha Lok Sabha Election Results 2024 Updates: Odisha Parliamentary and assembly election exit poll results set to announced today; eyes on BJD and Naveen Patnaik
Central Railways' 63-hour mega block to hit Mumbai local train services, check dates and other details
From Axis to IDFC First - These bank stocks can give bumper returns in 3-4 weeks – Check target price and stop loss
01:28 PM IST