On Friday the finance minister Pranab Mukherjee revised the tax slab of the budget 2010 to give relief to middle class citizens.
“The plan to cut the income tax slab will be 60% beneficial for all tax payers,” finance minister said and he wants to hike the MAT (min alternate tax) to 18% of book profits from the current 15%.
“We expect that meeting the 10% growth mark is not too far in future,” he said and the government will also evaluate the fiscal stimuli to get the nation’s growth further broad based. [smartads]
The finance minister Pranab Mukherjee proposed the following income tax slab 2010 for tax payers (individual):
1. No tax levied for earnings up to Rs 1.6 lakh
2. Tax of 10 % would be taxed for earning up to Rs 5 lakh
3. 20 % for up to Rs 8 lakh and
4. 30 % beyond it.
While the earlier tax slab was:
1. no tax levied for earnings up to Rs 1.6 lakh
2. Tax of 10 % would be taxed for earning up to Rs 3 lakh
3. 20 % for up to Rs 5 lakh and
4. 30 % beyond it.
February 26th, 2010 at 6:19 am
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February 26th, 2010 at 9:56 pm
it will useful to middle class salaried person between 20l to 50 k.
February 27th, 2010 at 10:04 am
i thing this is a good tax slab for middle class persons. now they can invest in other mode of investment to earn extra money.
February 27th, 2010 at 7:20 pm
Yes this is really a good slab plan.. which will defenetly helps in different mode of investments and guys having salry mid to 2 – 5 lak are really benifited.
but unfortunatley no luck inlined for >8lac
March 2nd, 2010 at 9:49 am
New slabs are good but for upper middle class only as there is no relief for persons of income group upto 3 lakh.
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January 30th, 2011 at 9:30 am
Rs 40000 saved by everyone whose earning upto 5 lkh every year,compare to last tax slab….
Good one to middle class people and it will help to diversification of investment….