ఆదాయపు పన్ను తగ్గనుందా? ఆర్థిక మాంద్యానికి మందు? || Is Government Mulling Income Tax Cut?||

ఆదాయపు పన్ను తగ్గనుందా? ఆర్థిక మాంద్యానికి మందు? || Is Government Mulling Income Tax Cut?||
The government is mulling a restructuring of personal income tax rates to encourage the middle class to spend more in its bid to boost consumption. The finance ministry is currently holding discussions to present concrete proposals in next year's Union Budget.



Responding to a question at an event in Delhi recently, Finance Minister Nirmala Sitharaman also said that the government was looking at myriad suggestions and the relaxation on personal income tax was one of them before it presents the Union Budget 2020 in February next year.





Those earning up to Rs 5 lakh don't have to pay any tax on their incomes at present. However, people earning more than that may have more disposable income at their discretion after the government revamps the slab system.

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