Budget 2018: Income tax slab likely to be revised?

In the last year's Budget, Arun Jaitley disappointed this section

Budget 2018: Income tax slab likely to be revised?
There are also possibilities that the long-term capital gain tax may come back. Image source: Reuters
By ZeeBiz WebTeam
Updated: Wed, Jan 10, 2018
11:52 am
ZeeBiz WebDesk
RELATED NEWS
Stock Market Forecast: Bear or Bull? What Dalal Street is expected to witness in 2019 Lok Sabha Elections season - Analysis Stock Market Forecast: Bear or Bull? What Dalal Street is expected to witness in 2019 Lok Sabha Elections season - Analysis
How to become a crorepati: This is how upcoming Elections 2019 can make you rich; history shows you the money How to become a crorepati: This is how upcoming Elections 2019 can make you rich; history shows you the money
Task to strengthen public finances left to next govt: Fitch Ratings Task to strengthen public finances left to next govt: Fitch Ratings
IMF's 7.4% growth forecast for India in FY19 a boost to Modi govt IMF's 7.4% growth forecast for India in FY19 a boost to Modi govt

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.

 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.