Income Tax reduced
It is certainly a great news for people working in IT companies. The income tax has been reduced to: NIL upto 1.5 lakhs per annum, 10% from 1.5 to 3.0 Lakhs per annum & 20% from 3.0 lakhs to 5.0 lakhs per annum. Which is very low compared to earlier 10% from 1.0 Lakhs to 1.5 lakhs, 20% from 1.5 lkahs to 2.5 lakhs & 30% from 2.5 to 5 lakhs.
This is one key advantage of this years budget. I am sure everyone would have felt relieved from this plan. Atleast, I am very happy that I would save a lot of money on income tax.