GUWAHATI: Assam has announced a professional tax exemption for individuals earning up to ₹15,000 per month. The announcement was made by Finance Minister Ajanta Neog on Monday, March 10, while presenting the 2025-26 budget in the assembly.
ALSO READ: watch: Guwahati Household Suffers Amid India's Champions Trophy Celebration
The exemption, under the Assam Profession, Trades, Callings, and Employments Taxation Act, 1947, is expected to benefit over 1.43 lakh taxpayers and boost their purchasing capacity.
Notably, in the financial year 2023-24, the Taxation Department collected ₹22,580 crore, reflecting a 15% growth from the previous year.
Up to February, the total revenue collection, including GST and non-GST components, stood at ₹21,578 crore, registering a 5% growth, which has further enabled the government to pay salaries through domestic resources, and provide this tax exemption.
Additionally, to support the tea industry, the tax holiday on green tea leaves under the Assam Taxation (on Specified Lands) Act, 1990, has been extended for two more years starting from January 1.
Furthermore, the state government has announced SGST reimbursement for traders in the bell metal industry, with a detailed notification expected by May.
