Significant tax reforms for boosting investments recently undertaken. However, expected tax buoyancy expected to take time.
Direct Tax Proposals: To stimulate growth, simplify tax structure, bring ease of compliance, and reduce litigations.
| Table IncomeSlab (Rs.) |
Existing Tax Rates |
New Tax Rates |
| 0-2.5 Lakh | Exempt | Exempt |
| 2.5-5 Lakh | 5% | 5% |
| 5-7.5 Lakh | 20% | 10% |
| 7.5-10 Lakh | 20% | 15% |
| 10-12.5 Lakh | 30% | 20% |
| 12.5-15 Lakh | 30% | 25% |
| Above 15 Lakh | 30% | 30% |
