Save over 50% tax if new income tax slabs are implemented in Budget of 2017

Written By: ZeeBiz WebTeam MumbaiZeeBiz WebDesk Updated on: February 01, 2017, 02.01 PM IST

For the income between Rs 10 lakh to Rs 15 lakh, the tax rate is likely to be 20% as per the new proposal.

Your personal income tax might get reduced if Ministry of Finance acts on a proposal, Tarun Sharma of Zee Business reports.

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ources told Zee Business that the finance ministry has proposed that no tax will be liable up to the income worth Rs 4 lakh. Currently, no tax is charged up to income of Rs 2.5 lakh per year.

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