Income tax ceiling remains unchanged
The income tax ceiling for individuals remains unchanged at Tk 2.50 lakh in the proposed national budget for the fiscal 2019-20.
Finance Minister AHM Mustafa Kamal made the proposal while unveiling his maiden budget for the fiscal year 2019-20 in the parliament this (Thursday) afternoon.
The tax slab is Tk 3 lakh for women taxpayers and senior citizens while Tk 4 lakh for person with disability and the threshold for gazetted war-wounded freedom fighters will also remain unchanged at Tk 4.25 lakh.
Meanwhile, like the previous fiscal, the budget proposed to impose 10 percent tax for Tk 4 lakh of total income while 15 percent for Tk 5 lakh, 20 percent for Tk 6 lakh , 25 percent for Tk 30 lakh and 30 percent on the balance of total income.