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For income between rs 5 7 5 lakh the tax rate is 10 as against 20 in the past.
Income of lower middle class nirmala sitharaman. Stating that it s too early to assess the impact of coronavirus on the economy the minister said she had confidence in the entrepreneurs. The minister rejigged personal taxes to leave more disposable income in the hands of middle class individuals especially aimed at triggering consumption and demand among the lower middle classes. I was quite surprised when our finance minister nirmala sitharaman said recently in a media briefing that rs 6 18 lakh annual income is the lowest strata of the middle income group. Addressing the media on 2nd tranche of economic stimulus package finance minister nirmala sitharaman said for middle income group for people between the income of rs 6 lakh to 18 lakh the.
Government has extended credit linked subsidy scheme for lower strata of the middle income group i e rs 6 18 lakh income per annum to march 2021. Consider the following changes in the tax rate.
We Re Poor That S Rich
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