Finance Ministry against raising income tax exemption limit to Rs 3 lakh

Apr 01 2014, 18:41 IST
Comments 0
The Finance Ministry said the recommendations of the Committee 'were not in harmony' with the broad taxation policy. The Finance Ministry said the recommendations of the Committee 'were not in harmony' with the broad taxation policy.
SummaryThe Committee headed by Yashwant Sinha had proposed no tax on income of up to Rs 3 lakh.

Code provides for a fourth slab for individuals, HUFs and artificial judicial persons. In their case if the total income exceeds Rs 10 croe, it is proposed to be taxed at the rate of 35 per cent," the ministry added.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...