Good news for taxpayers! A recent government order has brought relief by exempting income tax on earnings up to Rs. 7 Lakh. This move is expected to provide a significant boost to the taxpayers, reducing their tax liability and freeing up more funds for personal and business use.
Income Tax Exemption: A Significant Relief for Taxpayers
With this new order, individuals and businesses alike can breathe a sigh of relief and focus on growing their finances.
Tax season can be a stressful time for many individuals and businesses, but a new government order has brought some much-needed relief. The order exempts income tax on earnings up to Rs. 7 Lakh, providing a big boost to taxpayers. This move is expected to have a positive impact on the economy, freeing up more funds for personal and business use, and encouraging growth and development.
With the exemption, individuals and businesses no longer have to worry about paying a significant portion of their income in taxes, allowing them to keep more of their hard-earned money. This order is likely to be well received by taxpayers who have been struggling with high tax liabilities in recent years. The government’s decision to provide tax relief is expected to improve the financial well-being of taxpayers and help them to make important investments in their personal and professional lives.
Overall, the new income tax exemption order is a welcome change for taxpayers, providing a much-needed boost to their finances and offering a more relaxed and less stressful tax season. The government’s decision to provide relief to taxpayers is likely to have a positive impact on the economy, encouraging growth and development, and improving the standard of living for individuals and businesses alike.
Income Tax New Tax slab: What will be the new tax slab?
Revenue to tax %
- 0 to 3 lakh 0%
- 3 to 6 lakh 5%
- 6 to 9 lakh 10%
- 9 to 12 lakh 15%
- 12 to 15 lakh 20%
- More than 15 lakh 30%
