The finance minister on Thursday (June 1) proposed an increase in the tax-free income limit for individual taxpayers, after three years, to Tk 3.5 lakh from the existing Tk 3 lakh giving relief to marginal taxpayers.

Finance Minister AHM Mustafa Kamal said this while placing the proposed national budget for the next fiscal year (FY24) at Jatiya Sangsad today.

Besides, the tax-free income threshold for women and senior citizens above 65 years of age has also been increased to Tk 4 lakh from Tk 3.5 lakh.

Proposals have been placed for the physically challenged people and third gender taxpayers to extend their tax-free income limit to Tk 4.75 lakh, which were Tk 4.5 lakh and Tk 3.5 lakh respectively.

The tax-free income limit for war-wounded gazette freedom fighter will be Tk 5 lakh, up from Tk 4.75 lakh.

BDST: 1626 HRS, JUNE 1, 2023
MN/SMS