Union Budget 2018-19, Arun Jaitley, Income tax limits, income tax exemption limits, income tax, GST, income form House property, capital gains tax, tax, capital gains
 
Budget for Salaried People
Budget 2018: Decoding the effect of FM Arun Jaitley's speech on salaried taxpayers

At present, a 3 per cent cess, consisting of 2 per cent cess for primary education and 1 per cent cess for secondary and higher education, is levied on personal income tax and corporation tax.

 
 
A proposal was recently made to the finance ministry calling for a revision of the tax slab and raising the limit from Rs 2.5 lakh per annum to Rs 3 lakh.
As per the current norms of the Income Tax Act, tax payers spending on education of their children get exemption on paying income tax.
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