Budget 2016-2017

Budget seeks to keep tax-free income limit unchanged

Published : 04 Jun 2016, 00:57

Jagoroniya Desk

The proposed budget for 2016-2017 fiscal suggested the limit of tax-free individual income to be kept unchanged at Taka 2.50 lakh.

"Last year the tax-exempted income-threshold for individual tax payers was Taka 2.50 lakh and there was an opportunity to change this threshold for various types of taxpayers," Finance Minister AMA Muhith said as he placed the budget.

He added: "In the next year (as well), I propose not to bring any change in these tax rates." 

Tax exemption threshold for women and senior citizens, aged 65 years or above has been remained at Taka 3 lakh while person with disability at Taka 3.75 lakh, war-wounded freedom fighters named in the gazette at Taka 4.25 lakh.

Source: BSS.

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