While there was not much for salaried income tax payers in Finance Minister Arun Jaitely's 2018-2019 Union Budget's speech, two aspects -- an introduction of 10 per cent long term capital gain tax on equity and mutual fund investors on profits above Rs 1 lakh as well as a standard deduction of Rs 40,000 -- are likely to bring impact to returns and save earnings of retail investors and salaried class.
While there was not much for salaried income tax payers in Finance Minister Arun Jaitley's 2018-2019 Union Budget speech, two aspects -- the introduction of 10 per cent long term capital gains tax on equity and mutual fund investors on profits above Rs 1 lakh as well as a standard deduction of Rs 40,000 -- are likely to impact returns and earnings of retail investors and salaried class.