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Budget 2023: Amid exemption in income tax, picture of 31-year-old tax slab goes viral | WATCH
In the general budget presented today, Finance Minister Nirmala Sitharaman has announced a big relief for taxpayers and has kept income up to 7 lakhs out of tax
Union Finance Minister Nirmala Sitharaman has presented the general budget for 2023-24. This time the Finance Minister presented the budget for the 5th time. The common man has been taken full care of in this budget. Big relief has been given to the biggest taxpayers by giving exemption in the tax slab. Now no tax will have to be paid on income up to Rs 7 lakh. Taxpayers will be given this exemption under the new tax system.
In the midst of great relief to the taxpayers, a picture is going viral on social media. This picture is of the tax slabs released during the 1992 budget. The change in tax slabs in 1992 and today can be gauged from this picture.
Watch the viral photo here:
Photo of 1992 tax slab
PV Narasimha Rao’s government in 1992 is called the father of liberalisation in the country. Manmohan Singh, who was the Finance Minister in Rao’s government, presented the budget, which opened the way for economic reforms in the country. In this budget, the tax slab was divided into three parts.
Read Also: Budget 2023: Nirmala Sitharaman outlines 7 priorities, calls them saptarishis
What was tax slab in 1992?
Now, let’s talk about the picture which is in discussion. In this picture shared by a Twitter handle, information about the tax slab of 1992 has been given. Its caption reads New Income Tax Slab in the 1992 Budget. No tax up to Rs 28,000. 20 per cent tax from Rs 28001 to Rs 50000. 30 per cent tax from Rs 5,0001 to Rs 1,0000. 40 per cent income tax on income above Rs 1 lakh. Along with this, a photo of Indian Express has also been shared.
This tweet has gone viral. Till now hundreds of users have liked this picture. A user wondered what will be the tax on 10 lakhs.
What is the tax slab today?
In the general budget presented on February 1, 2023, Finance Minister Nirmala Sitharaman has announced a big relief for taxpayers and has kept income up to 7 lakhs out of tax. Under the new income tax slab, taxpayers will not have to pay any tax on income between 0 to 3 lakh rupees. 5 per cent for Rs 3 to 6 lakh, 10 per cent for Rs 6 to 9 lakh, 15 per cent for Rs 9 lakh to 12 lakh, 20 per cent for Rs 12 to Rs 15 lakh and 30 per cent for income above Rs 15 lakh . It is obvious that compared to today’s budget of 1992, the exemption for tax at that time was very less.
Budget 2023: Middle class woes memes flock the social media platforms
Budget 2023: No tax on income up to Rs 7 lakh, revised tax slabs for new regime
India News
Day after Gandhi Jayanti, Delhi Police raids journalists linked to Newsclick
During the raid, the Special Cell of Delhi Police seized a lot of electronic evidence, laptops, mobile phones and also took data dumps of hard disks.
A day after Gandhi Jayanti, Delhi Police Special Cell raided the residences of journalists and employees linked to Newsclick. This comes amidst news portal’s alleged Chinese links. A large-scale raid is being conducted by the Delhi Police in Delhi, Noida and Ghaziabad.
The Delhi Police has lodged a case under the Unlawful Activities (Prevention) Act (UAPA). During the raid, the Special Cell of Delhi Police seized a lot of electronic evidence, laptops, mobile phones and also took data dumps of hard disks.
On Tuesday morning, residences of video journalist Abhisar Sharma, senior journalist Bhasha Singh, veteran journalist Urmilesh, Newsclick editor Prabir Purkayastha and writer Githa Hariharan, renowned journalist and commentator on political economy Aunindyo Chakravarty, activist and historian Sohail Rajaura were raided.
The searches by the Delhi Police are on the grounds of input shared by Enforcement Directorate (ED), indicating unlawful activities by the suspects. Reports said that a probe by the ED had revealed fraudulent infusion of foreign funds of Rs 38.05 crore during a short span of three years.
The scrutiny of the evidence by the ED further revealed questionable infusion of foreign inward remittance of Rs 9.59 crore by way of FDI and Rs 28.46 crore by way of export of services. Reports stated that the funds received were distributed to multiple controversial journalists, including Gautam Navlakha and associates of Teestha Setalvad. The Enforcement Directorate also shared details regarding China’s link with Delhi Police.
Previously, ED had lodged a case against Newsclick, mentioning that the news portal has received foreign funding in violation of the Foreign Contribution Regulation Act (FCRA). The agency had also alleged that the money was used for anti-national activities.
In addition, a New York Times report claimed that the outlet was part of a global network that received funding from American billionaire, Neville Roy Singham to spread Chinese propaganda.
India News
Udaipur-Jaipur Vande Bharat operators prevents major accident, notices stones, rods on tracks, hit emergency brakes
Giving the details about the train and the incident, the CRPO said, KM 158/18, 158/19 on the Gangarar-Soniyana section were the stopping points for Train No. 20979 Vande Bharat Udaipur-Jaipur.
On Monday at Rajasthan’s Bhilwara, train operators of the Udaipur-Jaipur Vande Bharat Express noticed stones and iron rods on the railroad track and quickly stopped the train using emergency brakes.
The Chief Public Relations Officer (CPRO) of North Western Railway confirmed the incident and said that the RPF has opened a complaint under the Railways Act after personnel inspected the scene in the Gangarar-Soniyana section.
Giving the details about the train and the incident, the CRPO said, KM 158/18, 158/19 on the Gangarar-Soniyana section were the stopping points for Train No. 20979 Vande Bharat Udaipur-Jaipur. Two rods, each measuring one foot, were inserted into the joggle plate on the previously mentioned km, together with some ballast, which caused the standstill, he added.
The incident took place under the control of RPF/post/Bhilwara at about 09:55. The area is governed by SHO/Gangarar in the Chittaurgarh district, according to the CPRO.
DSC/Ajmer, IPF/Bhilwara, PWI/Gangarar, local Police, and GRP authorities all paid the location a visit. SP/Chittaurgarh has been informed by DSC/Ajmer. RPF has filed a lawsuit in accordance with the Railways Act. The PWI/Gangarar is also providing SHO/Gangarar with a FIR, the official continued.
Meanwhile, stones, rail fasteners and iron rods are seen being laid on the railway tracks in a video that is going popular on X, formerly Twitter.
Fortunately, the alert loco pilots on duty quickly identified the impediment and took prompt action by deploying emergency brakes, averting any potential disaster. Their quick action likely saved lives and made sure that everyone on board was safe.
The District Police and the Railway Protection Force are both aggressively looking into this worrying situation. Their efforts are concentrated on finding individuals accountable for putting lives at danger and interfering with railway operations.
Prime Minister Narendra Modi inaugurated the Udaipur-Jaipur Vande Bharat Express last month, which runs six days a week, except Tuesday. It departs from Udaipur city at 7:50 in the morning and gets to Jaipur at 14:05.
India News
Karnataka Eid clash: 43 persons arrested in Karnataka’s Shivamogga district
Chief Minister Siddaramaiah said the government is not going to tolerate people throwing stones on religious processions of other religions.
Tension gripped Karnataka’s Shivamogga district as two groups clashed during Eid e Milad un Nabi processions near Ragigudda. 43 persons have been arrested in the clashes on Monday. Chief Minister Siddaramaiah said the government is not going to tolerate people throwing stones on religious processions of other religions.
Section 144 has been imposed Ragigudda by the Shivmogga district administration. CM Siddaramaiah said the situation is currently under control. The police has arrested 43 persons. He added it is wrong to pelt stones to disturb the religious procession of others. He said the government is not going to tolerate such actions.
Milad un Nabi processions is usually marked by large gathering and celebrations. The procession was halted due to the chaos. The police said the protestors tried to breach the barricades set by the security forces. The police forces had to resort to a lathi charge in order to disperse the crowd. About five people were injured during the clashes.
Senior police officials said the situation was under control and the issue had been resolved. They appealed to the people to maintain peace and not spread rumours. Siddaramaiah said cases were being booked against those found guilty as pelting stones at another religious procession is against the law.
Siddaramaiah added Shivamogga city has been brought to normalcy again. All possible actions are being taken by the police force. The situation continues to be tense all over the city of shivamogga. The security arrangements have been tightened. The shops and the market has been asked to close down.
2500 policemen, two platoons of Karnataka State Reserve Police (KSRP), two platoons of rapid action force and 12 platoons of District Armed Reserve have been stationed across the city to thwart any untoward incident. The murder of Harsha, the Bajrang Dal activist which made national news had taken place in shivamogga city in February 2022.
