The finance minister has proposed to slash the tax rate for individuals in the lowest income tax slab – Rs 2.5 lakh to Rs 5 lakh –to 5% instead of 10%. The existing rebate under Section 87A (currently given to people with income up to Rs 5 lakh) is proposed to be reduced to Rs 2500 from the existing Rs 5000 for individuals earning between Rs 2.5 lakh to Rs 3.5 lakh.
Showing posts with label Tax rate for lowest income slab slashed to 5% from 10%. Show all posts
Showing posts with label Tax rate for lowest income slab slashed to 5% from 10%. Show all posts
Thursday, 27 July 2017
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