IMF offers the government a shocking proposal: 30 lakh Income tax threshold should be reduced to 5 lakhs; monthly wage earner of 40 lakhs also subject to tax – ExclusiveIMF

According to a trustworthy source, the IMFhas informed the government to lower the income tax threshold with immediate effect. With this, the barrier, which had previously been set at 30, 0000, would be reduced to 5 lakhs, as suggested by the IMF.

If this idea were to be followed, income tax would be due from all wage earners in the range of Rs. 40, 000.