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Economy

Govt revises income tax slab

Gorkha Post

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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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Economy

Visitors can enjoy paragliding and other activities in Nuwakot Festival

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NUWAKOT — Visitors can enjoy paragliding, rafting, helicopter excursion and elephant safari among a host of activities in course of the Fifth Nuwakot Mahotsav that is taking place here from February 28 to March 10.

The mahotsav or festival will also feature the traditional bull fighting. The paragliding will be organised from the historic Seven-storied Palace premises while the river rafting will take place in the Trishuli River.

Likewise, the helicopter excursion would be organised to the major spots in the district including a mountain flight from Mt Ganesh to Gosainkunda.

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The Nuwakot Chamber of Commerce and Industry is organising the festival with the objective of promoting the local culture, tradition and tourism. The Mahotsav will be held in Bidur, Nuwakot.

All preparations except for some managerial matters for the festival have been completed, said Tara Bahadur Karki, president of Nuwakot Chamber of Commerce and Industry at a news conference here on Thursday.

Karki said that there would be 275 stalls including the stalls showcasing the local agricultural and handicraft products.

Also on sale would be the famous Kaanchi badam (groundnut) from Trishuli, the rice grains from Shikharbesi, the trout fish and strawberry from Kakani and the ground apple from Kispang.

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