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Finance Minister reduces the tax rate from 10 to 5 per cent for individual income between ₹ 2.5 to ₹ 5 lakh.

Budget - Dated:- 1-2-2017 - Finance Minister appeals to all citizens to contribute to Nation Building by making a small payment of 5 per cent tax if their income is falling in this slab. A simple one- page Income Tax Return form for the category of i .....

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akhs to ₹ 5 lakhs. This would reduce the tax liability of all persons below ₹ 5 lakh income either to zero (with rebate) or 50 per cent of their existing liability. While presenting the General Budget 2017-18 in the Parliament today, the .....

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of people to reduce their burden of taxation. The Finance Minister further said that if a nominal rate of taxation is kept for lower slab, many more people will prefer to come within the tax net. The Finance Minister made an appeal to all the citize .....

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to bring within tax-net more people who are evading taxes. So, in order to expand tax net, it is decided to have a simple one-page form to be filed as Income Tax Return for the category of individuals having taxable income upto ₹ 5 lakhs other .....

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transaction. In his Budget Speech, the Finance Minister further said that in order not to have duplication of benefit, the existing benefit of rebate available to the same group of beneficiaries is being reduced to ₹ 2500, available only to as .....

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