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Certain Tax Reliefs announced for small tax payers and others

Budget - Dated:- 29-2-2016 - While presenting the General Budget 2016-17 in Lok Sabha here today, the Union Finance Minister Shri Arun Jaitley said that the taxation is a major tool available to Government for removing poverty and inequality and this has to be cautiously exercised. But, he would like to give relief to small tax payers, the Finance Minister added. Thus the ceiling of tax rebate under Section 87A of IT Act has been proposed to be raised to ₹ 5,000 from ₹ 2,000 for indi .....

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