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 surcharge of 10% slapped on incomes over Rs 50 lakh. Show all posts
Showing posts with label surcharge of 10% slapped on incomes over Rs 50 lakh. Show all posts
Thursday 27 July 2017
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