The new Budget is out and the middle class taxpayers are finding it really good. Financial minister Nirmala Sitharaman read out the budget to give a huge relief to the taxpayers. The tax has been cut down and the new tax slabs are really great. Let us know the highlights!
It is 10% now!
For the ones earning between Rs. 5- 7.5 lakhs, only 10% of the tax will be charged which was earlier 20%. This has come as a huge relief. The public is in the support of this decision and they are appreciating the new budget.
Highlights of the Tax Slabs
There is a relief to nearly every one. It is because earlier who paid 20% of the tax will now pay only 15% if their income is between 7.5 lakh rupees and 10 lakhs. Let us know the other highlights too!
- 20% of tax on the income between 10 lakh rupees to 12.5 lakhs which was earlier 30%
- 25% of tax on the income between 12.5 lakh rupees to 15 lakhs which was previously 30%
- 25% of the tax for the ones having income more than 15 lakh rupees.
The decision is out and people are in support of it. After the chaos in the country, such a decision has limited the frowns on the faces of the people.