Tag: rebate

  • Income tax rebate is of no use to Telangana: BRS MLC Kavitha

    Income tax rebate is of no use to Telangana: BRS MLC Kavitha

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    Hyderabad: Reacting to the union budget delivered by Finance minister Nirmala Sitharaman BRS MLC K Kavitha Kalvakuntla on Wednesday said that the income tax rebate on income up to Rs 7 lakhs in the new tax regime is of no use to the people of Telangana.

    “This budget mathematical confirmation of the failure of Modi govt. This seems like a budget for few states. We hoped tax rebate of up to Rs 10 lakhs. In Telangana, we pay good salaries to people so this rebate is of no use to us,” she said speaking to ANI.

    Kavitha also said that the centre only announces development projects in either poll-bound states or BJP-governed states.

    “Centre announces development projects in either poll-bound states or BJP-governed states. They announced Rs 10,000 crore for infrastructure, which infrastructure? They are not clear. They owe us Rs 1000 cr & I request Finance Min to pay our dues,” she further said.

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    ( With inputs from www.siasat.com )

  • Income tax- rebate extended on income up to Rs 7 lakhs in new tax regime: FM

    Income tax- rebate extended on income up to Rs 7 lakhs in new tax regime: FM

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    Finance Minister Nirmala Sitharaman announced that the income tax rebate is extended on income up to Rs 7 lakhs in the new tax regime.

    “I introduced in 2020, the new personal income tax regime with 6 income slabs, starting from Rs 2.5 Lakhs. I propose to change the tax structure in this regime by reducing the number of slabs to 5 and increasing the tax exemption limit to Rs 3 Lakhs,” the Finance Minister announced.

    (This is a breaking story. Keep refreshing the page for fresher updates).



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    ( With inputs from www.siasat.com )