ALL VETERANS ARE REQUESTED TO SEE THE WEB SITE & GIVE YOUR VALUABLE COMMENTS/SUGGESTIONSGet this Widget

Wednesday, 1 February 2017

ighlights of Budget 2017 in Personal Income Tax Front

Highlights of Budget 2017 in Personal Income Tax Front

Except 5% reduction in Income Tax in respect of Income coming under Income Slab between Rs. 2.5 lakh to Rs. 5.0 lakh no major changes have been effected in Budget presented on 1st February 2017 Finance Minister Arun Jaitley presented the Union Budget 2017, his fourth annual budget, today.
Here are the highlights of this year’s budget in personal Income Tax Front Income Tax rate cut to

5 % for individuals having income between Rs 2.5 lakh to Rs 5 lakh

10 % surcharge on individual income above Rs 50 lakh and

upto Rs 1 cr to make up for Rs 15,000 cr loss of due to cut in personal I-T rate 15 %

surcharge on income above Rs 1 cr to continue

No change in Deductions under Section 80 C which is presently Rs.1.5 lakh

No change in Deduction on Interest on House Property which is presently Rs. 2.0 lakh

Source: Economic Times

Blog Archive

Disclaimer

The contents posted on these Web Site are personal reflections of the Viewers and do not reflect the views of the "Indian Military Veterans- Web" Team. Neither the "Indian Military Veterans -Web" nor the individual authors of any material on these Web accept responsibility for any loss or damage caused (including through negligence), which anyone may directly or indirectly suffer arising out of use of or reliance on information contained in or accessed through these Web.
This is not an official Web site. This forum is run by team of ex- Indian Army, Veterans for social networking of Indian Defence Veterans. It is not affiliated to or officially recognized by the MoD or the AHQ, or Government/ State.
The Indian Military Veterans Forum will endeavor to edit/ delete any material which is considered offensive, undesirable and or impinging on national security. The WebTeam is very conscious of potentially questionable content. However, where a content is posted and between posting and removal from the Web in such cases, the act does not reflect either the condoning or endorsing of said material by the Team.
Web Moderator: Capt KS Ramaswamy (Retd)

Resources


JOIN SITE AS MEMBER AS ABOVE & TYPE YOUR E-MAIL ADDRESS HERE FOR AUTO E-MAIL UPDATES