New income tax slabs announced for salaried people
Budget 2025-26 proposes 5% income tax on pensions exceeding Rs10 million per year
Budget 2025-26 proposes 5% income tax on pensions exceeding Rs10 million per year
Exemptions granted to firms registered as trusts, foundations, non-profit entities
Consultations are currently underway to hold a pre-Eid budget session
Measure is part of broader strategy to incentivise individuals to become tax filers
Proposals include one-year tax credit on home property, increase in annual income tax exemption to Rs900,000
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