The Assam government on Monday presented a Rs 2.63 lakh crore budget for the 2025-26 fiscal, with a deficit of Rs 620.27 crore, proposing to exempt professional tax on a monthly income of up to Rs 15,000 for all salaried individuals in the state, where assembly polls are due early next year.
Finance Minister Ajanta Neog, presenting her last full budget for the fiscal, also announced to extend the tax holiday for green tea leaves for two more years to alleviate the challenges faced by the tea industry.
Neog said to support the hardworking middle-class families, the budget proposes exemption on professional tax for individuals earning up to Rs 15,000 per month under the Assam Profession, Trades, Callings and Employments Taxation Act, 1947.