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StaffCorner

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19 Dec, 2016 11:03 PM

Govt rejects reports on new IT slabs. terms report 'baseless and unfounded'

Govt rejects reports on new IT slabs. terms report 'baseless and unfounded' Union Government spokesperson Frank Noronha on Monday rejected the media report about new income tax slabs. Earlier the media reports had suggested that the Government of India is likely to give relief to millions of middle class people by revising the Income tax slabs in the next Union Budget.

Earlier the media reports had suggested that the Government of India is likely to give relief to millions of middle class people by revising the Income tax slabs in the next Union Budget.

The new slabs, as suggested by reports, granted 100% tax relief to people with annual income up to Rs 4 lakh. Currently, no tax is applicable on income up to Rs 2.5 lakh.

Attributing the likely revision to demonetization pressure of the government, the media reports said also said that the tax slabs for other categories may also be revised siginificantly.





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