Finance Minister’s first interview after budget
New Delhi:
Now people with income up to Rs 12 lakh will not have to pay any tax. Finance Minister Nirmala Sitharaman surprised everyone by giving this exemption to people with up to Rs 12 lakh. After all, how did this figure of Rs 12 lakh? After the budget, Finance Minister Sitharaman, in his first interview, said in a special conversation with Lokjanta editor-in-chief Sanjay Puglia that this is a lot of decision taken.
Lifestyle of the one who earned 1 lakh rupees
Finance Minister Nirmala Sitharaman said, ‘There is a lot of discussion in the middle class, what she got. Our focus lives on people of every region every time. This time we saw how the life style of those earning at least one lakh rupees is? How do these people live … what life style maintains? After seeing all this, we reached the decision that those who earn 1 lakh rupees should be exempted every month.
No tax up to 12 lakhs now
Explain that the Finance Minister said that under the new tax regime, tax on income of Rs 0-4 lakh will be zero. At the same time, 5 percent on income of Rs 4-8 lakh, 10 percent on income of Rs 8-12 lakh, 15 percent on income of Rs 12-16 lakh, 20 percent on income of Rs 16-20 lakh, 20-24 lakhs The rate of tax on income of Rs 25 percent on income of Rs and more than 24 lakhs will be 30 percent. Finance Minister Nirmala Sitharaman said that after this change made under the new tax regime, an income of Rs 12 lakh will be saved by Rs 80,000. At the same time, there will be a savings of Rs 70,000 on income of Rs 18 lakh, Rs 1,10,000 on income of Rs 25 lakh.