Before talking about this year’s budget let’s recap last year’s budget. There were no major changes regarding Personal Income Tax last year which was totally opposite to the expectations of the middle-class population of India.
But this time, there are a few important points that made the middle class smile.
Income Amount | Tax Percentage |
0-3L | 0% |
3-6L | 5% |
6-9L | 10% |
9-12L | 15% |
12-15L | 20% |
Above 15L | 30% |
The people falling under the bracket of less than 15L will have to pay less than before now. This point was the reason behind the happy faces of the middle class of India.
Now that you know the changes in the personal income tax, open Demat Account with Angel One and start building a wealth.
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