Monday, February 29, 2016

How Budget 2016 will affect your income

How Budget 2016 will affect your income

The Indian Express
Tax relief of Rs 5,000 from existing Rs 2,000 on income between Rs 2.5 lakh and Rs 5 lakh.© pti Tax relief of Rs 5,000 from existing Rs 2,000 on income between Rs 2.5 lakh and Rs 5 lakh.

Following is the table of the impact of changes in income tax provisions proposed by Finance Minister Arun Jaitley in the Budget for 2016-17. This includes the following:
1) Tax relief of Rs 5,000 from existing Rs 2,000 on income between Rs 2.5 lakh and Rs 5 lakh.
2) Individuals with total income exceeding Rs 1 crore, surcharge rate increased to 15% from existing 12%.

Capture2© Provided by Indian Express Capture2
VIDEO: Income tax relief for small taxpayers

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