Class 9 Students to Study Income Tax; NCERT Focuses Solely on the New Regime

NCERT has included personal income tax in a new Class 9 Social Science textbook. The text explains to students how to calculate tax based on the different slabs of the new tax regime.

NCERT has recently released new textbooks for Class 9. Having previously released the Mathematics book, it has now issued the Social Science textbook. Consequently, Class 9 students will now gain knowledge about personal finance and income tax alongside traditional subjects like Mathematics, Science, and Social Science. The new Social Science textbook incorporates personal income tax, explaining tax calculations based on the various slabs of the new tax regime. It is worth noting that NCERT has just released the second part of the Class 9 Social Science book, following the release of the first part in June. The new book features a chapter titled "Managing Your Personal Finance," which emphasizes the importance of proper money management from an early age.

A key feature of this chapter is that it explains actual tax calculations to Class 9 students based on the tax slabs of the new income tax regime. According to NCERT chief Dinesh Prasad Saklani, this is the first time that tax calculation has been included in the curriculum for students of this age group. The book explains that income tax in India is calculated using a slab system. It provides a table of the new tax regime's slabs and details the process of determining tax liability based on them. Notably, the chapter makes no mention of the old tax regime; the focus remains entirely on the new system when educating students about personal income tax.

Tax Information Goes Beyond Just Calculation

NCERT has not limited the information on taxation merely to calculations. The chapter also links tax payment to civic responsibility. Students are taught that paying taxes honestly and on time is the duty of every citizen and that this generates resources for the country's development. Additionally, the book emphasizes that an understanding of money management should be cultivated from childhood. Financial management is not merely about earning a high income; it also encompasses decisions regarding spending, saving, investing, risk protection, responsible borrowing, and tax payments.

Students will also learn about these aspects of personal finance

This chapter explains various components of personal finance under the "Pillars of Personal Finance." These include income, budgeting, saving, investing, and risk management. Furthermore, it highlights the importance of early investment and discusses investment options such as fixed deposits, bonds, stocks, and mutual funds. According to the book, the financial decisions an individual makes today impact their future financial stability.