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Govt revises income tax slab

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KATHMANDU — The government has revised income tax slab to all Nepalis. Presenting the annual budget for fiscal year 2073/74 in the Parliament Saturday Finance Minister Bishnu Paudel announced raised of annual slab of income tax to Rs 350,000 for a single person and to Rs 400,000 for a married couple.

Now, a dingle individual earning Rs 29,167 a month and a wedded couple winning Rs 33,333 a month won’t need to file income tax from the upcoming fiscal 2016-17 according to new budget.

The existing individual income tax slab for a single person is Rs 250,000 and for a married couple is Rs 300,000.

Changes were made to the existing income tax slab along with salary increment for government staffers. The government has also increased the salary of government staffers by 25 per cent, which will be come into force from the next fiscal.

Although the new fiscal year will begin after one-and-a-half months, the new tax provisions of customs, excise, infrastructure tax and road maintenance tax set by the Financial Bill will come into effect from Saturday itself.

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PM congratulates Nepali national cricket team

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KATHMANDU— Prime Minister KP Sharma Oli has congratulated Nepali national cricket team for being able to clinch the International T20 series.

PM Oli in a tweet extended best wishes and congratulations saying he was very happy to know Nepal’s win over the UAE by 14 runs in the third match of the series.

Winning T20 series is another landmark success for Nepali cricket, he said, adding, “It is big achievement for Nepal’s cricket. I would like to heartily congratulate entire members of Nepali cricket squad”.

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