Assam Budget 2025-26: Tax exemption for Rs 15000 monthly earners
Assam Budget 2025-26: Tax exemption for Rs 15000 monthly earners
Digital Desk: Under the Assam Professions, Trades, Callings and Employment Taxation Act, 1947, professional tax exemptions for persons making up to Rs 15,000 per month have been suggested in the Assam state budget for the fiscal year 2025-2026. Over 1.34 lakh taxpayers and their families will profit from this.
In addition, the budget indicated that the bell metal industry would be reimbursed for state GST. A full notification in this regard will be made by May 2025.
The budget promised an extension of the tax vacation on green tea leaves under the Assam Taxation (Specified Lands) Act, 1990, for another two years, beginning January 1, 2025.
Acknowledging the credit and contribution of Assam’s tea garden worker community, the State government in Assam will provide a one-time financial assistance of Rs 5,000 to Rs 6.8 lakh tea garden workers, both working in a casual and permanent capacity. A total of Rs 342 crore has been allocated for this state-backed initiative.
Additionally, other highlights of the State budget presented today include a new scheme titled Jeevan Prerana
Under this initiative and scheme, Students of Colleges and Universities will receive Rs 2,500 per month
The funds will be available to students studying in government universities and colleges.
The State Government in Assam will sponsor two national conferences annually, every two years for Asian countries and one international conference every four years for non-Asian countries.
