How Budget 2016 will affect your income

Tax relief of Rs 5,000 from existing Rs 2,000 on income between Rs 2.5 lakh and Rs 5 lakh.

By: PTI | New Delhi | Updated: February 29, 2016 2:49 pm
switzerland, switzerland bank, swiss bank, dromant account, bank account, latest news 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%.

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