Income Tax slashed by 5%

Income Tax slashed by 5%

New Delhi: The Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes upto Rs 5 lakh but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.

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