Finance Minister AHM Mustafa Kamal has proposed to increase the tax-free income limit to Tk3.5 lakh from Tk3 lakh for individual taxpayers for FY24.
Finance Minister AHM Mustafa Kamal on Thursday unveiled a Tk7,61,785 crore proposed national budget for the 2023–24 fiscal year in the national parliament.
There has been a proposal to raise the tax-exempt earnings limit for women and individuals aged 65 and above, with the threshold now set at Tk4 lakh, up from Tk3.5 lakh.
Proposals have been made to increase the tax-exempt income threshold for individuals with physical disabilities and third gender taxpayers to Tk4.75 lakh. Previously, these limits stood at Tk4.5 lakh and Tk3.5 lakh, respectively.
The threshold for tax-exempt earnings of war-injured individuals who hold the prestigious title of gazette freedom fighter was proposed to be raised to Tk5 lakh, an increase from Tk4.75 lakh.
