News > No changes in Income Tax, govt employees’ tax deduction limit increased to 14%

No changes in Income Tax, govt employees’ tax deduction limit increased to 14%

Zee News India | 01/02/2022 09:04 PM | Click to read full article

While presenting the Union Budget on Tuesday, Finance Minister Nirmala Sitharaman proposed no change in income tax slabs. She, however, proposed that both Centre and states government employees’ tax deduction limit be increased from 10% to 14%. 

The Finance Minister also proposed a reduction in corporate surcharge and said that the transfer of any virtual digital asset shall be taxed at the rate of 30%.