Income Tax Exemption Limit Increased
Summary
Finance Minister Dr. Swarnim Wagle announced an increase in the income tax exemption limit from 5 lakh to 10 lakh in the fiscal year 2083/84 budget statement.
Key Points
- The income tax exemption limit has been increased.
- The minimum one percent tax will now be levied on income above 10 lakh.
- The announcement was made by Finance Minister Dr. Swarnim Wagle.
- The change is part of the fiscal year 2083/84 budget statement presented to the Federal Parliament.
