Discussions
Question
Current Affairs
How will the new Income-Tax Act affect the in-hand salary of employees from April 1?
Official answer & explanation
A
It will increase the in-hand salary for all employees.
B
It will decrease the in-hand salary for high-income earners.
C
It will have no effect on the in-hand salary.
D
It will only affect government employees.
Why this is correct
The correct answer is A. The new Income-Tax Act is designed to increase the in-hand salary for many employees by revising tax slabs and deductions. Option B is incorrect as the changes are generally aimed at providing relief to a broader range of taxpayers. Option C is misleading because the Act does have implications for salary structures. Option D is wrong as the Act affects all employees, not just government ones. 💰 Pro-Tip: Keep an eye on tax reforms as they can significantly impact your take-home pay.
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