Income Tax

More money in the hands of the salaried

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Taxpayers with gross income up to INR 6.50 lakh may not be required to pay any income tax if they make investments in provident funds, specified savings schemes and insurance.  “Providing a full tax rebate for taxpayers with taxable income up to INR 5 lakh is a masterstroke by the Government, as this benefits 3 crore tax payers without increasing slab rates,”.

Akhil Chandna
Director, Grant Thornton India LLP

This article appeared in The Hindu Business Line on 01st February, 2019