How Budget 2016 will affect your income
![The Indian Express]({"default":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1iC09.img?h=24&w=24&m=6&q=60&u=t&o=t&l=f&f=png"}){kind=small}
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.]({"default":{"load":"default","w":"27","h":"15","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BBq8UZH.img?h=151&w=270&m=6&q=60&o=f&l=f"}})
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%.
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VIDEO: Income tax relief for small taxpayers
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