The most simplistic and overarching demand of reduction in corporate tax rates remained unfulfilled. However, the raising of the basic income-tax exemption limit by Rs 10,000 (Rs 15,000 for citizens of 65 years of age and above) and deletion of surcharge of 10 percent ensured that individual tax payers received marginal relief.
The most simplistic and overarching demand of reduction in corporate tax rates remained unfulfilled. However, the raising of the basic income-tax exemption limit by Rs 10,000 (Rs 15,000 for citizens of 65 years of age and above) and deletion of surcharge of 10 percent ensured that individual tax payers received marginal relief. The income slabs have otherwise been left unchanged.
