New Delhi: Amidst heightened expectations and hopes Finance Minister Arun presented Union Budget 2017-18 by rewarding the common man with income tax sops.
Jaitley has halved the tax to 5 percent on incomes upto Rs 5 lakh while there will be no tax on income up to Rs 3 lakh.
Jaitley proposed a new surcharge of 10 percent on incomes between Rs 50 lakh and Rs 1 crore.
The change in the personal income tax rate for individual assessees between Rs 2.5 lakh and Rs 5 lakh income would reduce the tax liability of all persons below Rs 5 lakh to either to zero (with rebate) or 50 percent of their existing liability.
Do you think Arun Jaitleys's Budget has softened the demonetisation blow by announcing tax sops for the common man? Share your views on this.
