What happens to your taxes post Budget 2018?

Pick the case study nearest to your annual salary to determine the Budget impact.

SWACHH BHARAT PROJECT OFFICER

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ANNUAL INCOME – ₹5 LAKH

His hopes of a big gain from the budget have gone down the toilet. Not that he will have much time to count his small savings — just Rs 224 a year — as the government’s plans to build two crore toilets in two years will surely keep him busy. Swachh is life!
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ASTROPHYSICIST (RETD)
ANNUAL INCOME – ₹15 LAKH

The standard deduction of Rs 40,000 has given her quite the silver lining (pun intended). And truly, this one came once in a blue (and red) moon.
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ANNUAL INCOME – ₹25 LAKH

Her mutual fund dividends and shares will attract long- term capital gains tax, her manicure is costlier, and so is her favourite cranberry cooler! No surprise that she’s lost her sense of humour, at least in the short term.
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CODER-PROGRAMMER

ANNUAL INCOME – ₹ 1 CRORE

With more education cess to pay, he took a big hit. His next video game console and smartphone just became costlier as did his fitness tracker. Even his bitcoins are losing their sheen.

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Source by indiatimes..

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