Budget 2018: Income tax slab likely to be revised?
In the last year's Budget, Arun Jaitley disappointed this section
As the general elections is just over a year away, the Narendra Modi government might bring some good news for the middle-class taxpayers in the upcoming Union Budget on February 1, 2018.
A source told Zee Business that in the coming Budget the government might increase tax slabs and reduce tax rate on insurance premium.
— Zee Business (@ZeeBusiness) January 8, 2018
In the last year's Budget, Arun Jaitley disappointed this section. There are also possibilities that the long-term capital gain tax may come back, according to the report. Gains from shares sold after a year, known as LTCG, have been exempt from tax since 2005.
The government might also increase the income tax slab, which is at present 5% for Rs 2.5-5 lakh income bracket.
This class is eagerly looking for a booster package, as they suffered the most after the implementation of goods and services tax (GST) and note ban.