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Rohan Chauhan

Financial analyst (Mudra finance company) | Posted | News-Current-Topics


What things will become expensive after the implementation of new income tax laws?


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News reporter (CEN News ) | Posted


A lot of changes that were proposed in the Union Budget 2018-19 by the Finance Minister Arun Jaitley on February 1 came into effect from April 1, 2018.


This year there was no change in the "Income Tax slabs", but for salaried employees, there is a standard deduction of Rs 40,000 was introduced by the government in the place of transport and medical reimbursements.


The items which have become costlier in financial year 2018-19 are:


1. Cars


2. Motorcycles


3. Silver


4. Gold,


5. Cigarettes


Electronic items like "mobile phones, television sets, and smart watches" have also become expensive. Meanwhile, items that have become cheaper are cashew nuts, solar panels, and accessories used in making surgical implants that help the deaf patients.


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