Major relief to a salaried class

FM Nirmala Sitharama has increased the tax rebate of personal Income Tax from 5 lakh to 7 lakh and this is a major relief to the middle-class people.

Tax Structure:

0-3 lakh nil

3-6 lakh 5%

6-9 lk 10%

9-12 lk 15%

12-15 lk 20%

above 15 30%

New standard deduction for salary of 5 lac to be benefit upto 52,000.

Personal income tax
Propose to increase the rebate to ₹7 lakh from ₹5 lakh announced FM.