By : Oneindia Video Team
Published : February 01, 2017, 02:24
Duration : 04:41
Budget 2017: Reduces personal income tax rate by 5 per cent: Jaitley
Finance Minister Arun Jaitley has reduced personal income tax rate by 5 per cent. Now, the income between Rs 2.5 lakh to Rs 5 lakh to be taxed at 5 per cent and not at 10 per cent. Finance Minister Arun Jaitley presents the most challenging budget of his tenure as he seeks to appease voters still hurting from the radical monetary shock therapy that his government has administered. The 2017-18 budget comes less than three months after Prime Minister Narendra Modi’s bold and risky gamble to outlaw high-value old currency notes. Due to demonitisation advance tax on personal Income tax increased by 34.8%, said Jaitley.