Big Update for Married Couples!
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This would help families, especially those with only one income, by easing their financial burden.
Currently, couples file separately, with each person getting a tax exemption of Rs 2.5 lakh. The proposal suggests doubling the exemption limit to Rs 6 lakh for the whole family.
Tax slabs would look like this:
- Income up to Rs 6 lakh: Nil
- Rs 6 lakh to Rs 14 lakh: 5%
- Rs 14 lakh to Rs 20 lakh: 10%
- Rs 20 lakh to Rs 24 lakh: 15%
- Rs 24 lakh to Rs 30 lakh: 20%
- Above Rs 30 lakh: 30%
The surcharge would also be higher for those earning over Rs 1 crore.
Countries like the US and the UK already allow joint tax filing!
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First That convenience charge will be implemented by Govt on marriage lol in the name of EXTRA GST for marriage
Some Examples to consider like below:
1) First i expect GST to be added to gifts and things for Marriage expenses
2) and marriage registration and booking honey moon trip will have 28% GST slab
3) and marriage related things will get GST hikes (eg to buy gold for marriage it wont be 3% GST it will become 28% GST lol) -> REMEMBER SWEET POP CORN LOL
4) .................
..........
99) i dont want to say it all:) dont want to give idea to govt......
So my father in law would now know my salary.. sorry I am not interested. 😄
Icai is finding new ways to fool people
It's just a proposal, let it get realized then we can discuss.
Tax slabs would look like this:
- Income up to Rs 7 lakh: Nil
- Rs 7 lakh to Rs 15 lakh: 5%
- Rs 15 lakh to Rs 20 lakh: 10%
- Rs 20 lakh to Rs 24 lakh: 15%
- Rs 24 lakh to Rs 30 lakh: 20%
- Above Rs 30 lakh: 30%
Jumla pro max .
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sorry I don't understand this, at present under new tax regime nil tax is till 3 lakh. There is full tax rebate till 7 lakh. So if husband and wife file separate income tax , they don't have to pay any tax till 14 lakh.
So how is this helpful?
2) 7 lacs is for both income combined.
3) If wife/hasband has non taxable income, people will beat the sh*t out of the system.
4) Govt is not chu*, they will place restrictions so that their tax is not eroded.
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About one week old news.
1. That's only a proposal
2. This is the govt who can reverse the rule even after the announcement.
So, it's better to discuss these things in next fy (Before July, if implemented).
Expect to see a hike in marriage of convenience