Lok Sabha Election 2019: BJP manifesto promises income tax relief for middle-class
New Delhi, Apr 08: The Bharatiya Janata Party (BJP) promised to reduce income tax rates if it is voted back to power again in the Lok Sabha elections, 2019.
"After providing major tax relief in the recent budget, we are committed to further revise the tax slabs and the tax benefits to ensure more cash and greater purchasing power in the hands of our middle-income families," the BJP manifesto said.
"We will make all efforts to ensure that our aspirational middle class has access to education, employment opportunities and suitable urban infrastructure for a better quality life," the document adds.
In the Interim Budget in February, the government announced tax measures ranging from a full rebate on personal annual income up to Rs. 5 lakh to a 25 per cent hike in standard deduction threshold.
The tax rebate is at a cost of Rs. 18,500 crore to the exchequer. Other tax measures included an increase in the TDS (Tax Deducted at Source) limit applicable to rental income to Rs. 2.4 lakh from Rs. 1.8 lakh, and the decision to allow house owners to claim relief on a second self-occupied property.
Elections will be held in seven rounds of voting from April 11 to May 19. The results will be declared on May 23.