Budget 2017: Income Tax Rate Reduced To 5% For Income Between Rs 2.5L To Rs 5, Cash Transactions Above 3L Banned

Finance Minister Arun Jaitley has announced that the personal Income Tax Rate will be reduced from 10% to 5% for those earning between Rs 2.5 to Rs 5.He also announced 10% surcharge on individual income above Rs 50 lakh and upto Rs 1 Cr. 15% surcharge on incomes above Rs 1 crore will continueIncome tax for smaller companies with turnover up to Rs 50 cr reduced to 25%Some Important...