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Budget 2017-18: Tax benefit takeaways from new budget Last Updated : 01 Feb 2017 01:04:19 PM IST Finance Minister Arun Jaitley in parliament
Finance Minister Arun Jaitley on Wednesday tabled the General Budget 2017-18 in the Parliament and here we bring for you the tax benefit takeaways from the new budget.
- 5% tax instead of current 10% for income of Rs 2.5 lakhs to 5 lakhs
- One page I-T return form for individuals with less than Rs 5 lakh income
- After rebates, zero tax liability for people with annual income of Rs 3lakhs.
- Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore
- 15% surcharge on incomes above Rs 1 crore to continue
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