Finance Minister Arun Jaitley ascertains several changes in the Budget 2018-19 and decided not to change the income tax rates and the slabs. FM, also, did a couple of changes in income tax that will impact the common man alias the taxpayers. All these changes will reflect from the next month as the taxpayers will set get to pay their share of the tax amount.
The changes like new long-term capital gains tax on stocks and equity mutual funds and relief for senior citizens on interest income have been introduced in the budget for the financial year 2018-19. FM, Arun Jaitley gave relief to the salaried people by introducing the standard deduction. Another key feature that will affect the taxpayers is that the increase in cess will now be directly charge on the tax income payable.