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The Inland Revenue (Amendment) Bill No. 24 of 2017 has been gazetted.
Accordingly, it states that the bill has been gazetted as per the directives of the Minister of Finance and Economic Stabilization and National Policy.
According to the relevant gazette, the tax-free allowance has been reduced and the gross monthly income is Rs. It has also been suggested that people who own 100,000 or more will be liable for income tax.
Below is the relevant gazette notification,
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