Rediff.com  » Business » Budget 2022 leaves personal tax rates untouched

Budget 2022 leaves personal tax rates untouched

Source: PTI
February 01, 2022 13:36 IST
Get Rediff News in your Inbox:

Belying expectations, Finance Minister Nirmala Sitharaman did not tinker with the personal income tax rates in the Budget for 2022-23.

The minister also did not raise standard deduction, which was widely anticipated in view of elevated inflation levels and impact of the pandemic on the middle class.

 

The standard deduction currently stands at Rs 50,000.

There was no change in income tax slabs in the personal income tax category in the Budget unveiled on Tuesday.

Corporate tax rate too was kept at the same level.

However, concessional rate of 15 per cent has been extended by one year for newly incorporated manufacturing units. 

Get Rediff News in your Inbox:
Source: PTI© Copyright 2023 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
Related News: Nirmala Sitharaman
 

Moneywiz Live!