- Tax for annual income between Rs. 2.5 to 5 lakhs reduced to 5% from 10%
- Surcharge of 10% on those earning between Rs. 50 lakhs to Rs. 1 crore
- For more than Rs. 1 crore income, 15% surcharge to stay
Here are some of the key points:
- 5% tax (instead of current 10%) for those earning 2.5 lakhs to 5 lakhs
- After rebates, zero tax liability for people with income of 3 lakhs
- All other categories will also get uniform benefit of Rs 12,500
- With the income tax rate dropping to 10% surcharge on those earning 50 lakhs to 1 crore
- More than 1 crore : 15% surcharge (already exists)
Follow NDTV for latest election news and live coverage of assembly elections 2019 in Maharashtra and Haryana.
Subscribe to our YouTube channel, like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.