Income Tax halved to 5% for those in ₹2.5-5 lakh bracket
Finance Minister Arun Jaitley on Wednesday announced that income tax for those earning ₹2.5-5 lakh per annum has been reduced to 5% from 10% earlier. During the 2017-18 Budget speech, Jaitley also announced that there will be no income tax for those earning less than ₹3 lakh per annum.