Those With Income Up To Rs 50L To Save Rs 12,500; Tax Rates Cut For First Time In 20 Yrs With government minister Arun Jaitley reducing the charge per unit on financial gain block of Rs two .5 hundred thousand to Rs five hundred thousand from 100 percent {to five |to five}, all taxpayers whose financial gain is up to Rs fifty hundred thousand get a relief of Rs twelve ,500. The relief will go up to a most of Rs fourteen ,806 (with V-J Day surcharge) for those with financial gain of over Rs 1crore. The lowering of tax rates on Wed , although nominal, comes when a spot of twenty years. The last time taxpayers got relief was in 1997 once P Chidambaram given his “dream budget“.
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