Friday, June 10, 2011

Tax-free income level ups slightly

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Tax-free income level ups slightly


Despite growing inflationary pressure, the finance minister appeared miser in raising the tax-free income threshold when he proposed the budget for the upcoming fiscal year.

The threshold has been increased slightly to Tk one.80 lakh from Tk one.65 lakh as is within the outgoing year.

Neighbouring India features a provision of Rs one.80 lakh (Tk a pair of,97,977) tax free income.

Analysts, people and political parties are demanding raise within the ceiling in line with the soaring inflation. the most opposition BNP on Wednesday proposed raising the ceiling to Tk three lakh.

The limit for senior voters and ladies has been proposed to extend by Tk twenty,000 to Tk a pair of lakh within the proposed budget.

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