Budget 2016: No change in income tax slabs
The Union Budget announced today suggested that the income tax slabs for next fiscal will remain unchanged. The limit on tax rebate for people earning below ₹5 lakh was raised to ₹5,000 from ₹2,000. Further, a tax relief of ₹50,000 for first time home buyers was announced for up to ₹35 lakh loan, provided the house costs under ₹50 lakh.