November 23, 2024 14:26 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024 | UK can arrest Benjamin Netanyahu if he visits country based on ICC warrant | Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma
Union Budget: Tax rates for individuals having taxable income from Rs. 2 cr - 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectively

Union Budget: Tax rates for individuals having taxable income from Rs. 2 cr - 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectively

New Delhi, July 5 (IBNS): The effective tax rates for the higher income group individuals having taxable income from Rs. 2 crore to Rs. 5 crore and  Rs. 5 crore and above is proposed to be increased by around 3 percent and 7 percent  respectively. Presenting the General Budget 2019-20 in the Parliament today, Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman said, “In view of rising income levels, those in the highest income bracket need to contribute more to the Nation’s development”. Thanking the taxpayers, she said that they are playing a major role in Nation building.