The income tax limit will be Rs. 6 lakhs and 4 lakhs for non-profit class, the Minister for Revenue
Federal budget 2019-20 National Assembly nominations 70 billion rupees budget has been presented, budget minister General Hamad Azhar presented in the National Assembly. During the budget speech, Hamad Azhar told that Rs. 6 lakhs of the worth of income tax and 4 lakhs for non-profit class, 11 slabs of tax for more than 6 million rupees, 7.5 percent duty on more than 2,000 cc vehicles. For imposing, 5 percent tax on more than 1000 cc vehicles, one thousand CCs has proposed 2.5 percent excise duty.
According to the details, the Minister of State, Hamad Azhar presented the budget in the National Assembly, Rs.100 billion for the National Development Program and the development expenditure was 6192 billion in the budget. He said in the budget speech in the National Assembly that the domestic debt and trades were 31 thousand, gold reserves were reduced by 18 billion to 10 percent.
The financial deficit reached 2200 billion, the trade deficit reached $ 32 billion.
Trade deficit declined $ 4 billion. There was no increase in exports over the past five years. The electricity circulation loan reached 1200 billion. The performance of government institutions was a loss of 1300 billion. Billions of rupees were given to keep the minimum amount of rupees. It could not last too long, so the rupee started falling in 2017, and the development of the development broke.
He said that exports in our times increased, and an increase of 4 billion dollars in the imports. The foreign investment in the country was increased by $ 2 billion. $ 9.2 billion was received from China, Saudi Arabia, and the USA. 313 items will be duty, I thank the friendly countries. The reduction in external deficit in physical preparation, exports and export exports will be increased.
He further said that worth Rs 6 lakhs and Rs 4 lakhs for non-profit class, 11 slabs of tax for more than 6 lakhs, and 7.5 percent duty on more than 2,000 cc vehicles, he added. More than 5% tax on CC, one hundred CCs has proposed 2.5% excise duty on the vehicle.