It was widely believed that the Union Finance minister will provide some relief to demonetization-hit middle class either by increasing minimum taxable limit or reducing tax rates as well as increasing the limit of tax deduction under section 80 C and exemption on housing loan interest.
While the Finance minister did announce reduction of tax rate for individuals with income ranging between Rs 2.5 lakh and Rs 5 lakh to 5 per cent instead of 10 per cent, a surcharge of 10 per cent has been levied on those taxpayers who have annual income between Rs 50 lakh and Rs 1 crore. Besides, the tax rate for MSMEs has been reduced to 25 per cent. However, the budget as a disappointment for large industries as no reduction was announced in the corporate tax rate. All in all, it was a mixed bag on the direct tax front.
Bu hikaye Dalal Street Investment Journal dergisinin March 05 2017 sayısından alınmıştır.
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Bu hikaye Dalal Street Investment Journal dergisinin March 05 2017 sayısından alınmıştır.
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