Archive Tag:budget 2017

Budget 2017 – Income Tax Reduced by 5%

Needs Affordable, Hobbies Expensive – #Budget2k17

In a noteworthy stride, Finance Minister Arun Jaitley declared the lessening of the current rate of tax assessment for people with salary going between Rs 2.5 lakh to Rs 5 lakh to 5% rather than 10%. There will be an additional charge of 10% for those whose yearly wage is Rs 50 lakh to Rs 1 crore. Also, the 15% additional charge on Rs 1 crore or more stays unaltered. This is to compensate for Rs 15,000 crore misfortune because of the cut in the individual pay charge rate.

Source : DeccanChronicle