Budget 2019: Good news for middle class, Govt announces no tax up to Rs 5 lakh income

Budget 2019: Good news for middle class, Govt announces no tax up to Rs 5 lakh income

01 Feb 2019 12:45 PM

Budget 2019: Good news for middle class, Govt announces no tax up to Rs 5 lakh income

Updated 01 Feb 2019 12:45 PM

Big Cheer for salaried middle class; Govt announces no tax up to Rs 5 lakh income. Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities.
Direct tax collections up from Rs 6.38 lakh crore rupees in 2013-14 to almost 12 lakh crore rupees; tax base up from 3.79 crore to 6.85 crore.

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