Finance minister Arun Jaitley’s Union Budget 2017, which was presented on Wednesday, may not have met the high expectations set especially in the backdrop of demonetisation, but it did bring some relief for everyone. The government has reduced the personal income tax rate for those in the tax slab of Rs2.5 lakh to Rs5 lakh to 5% from 10% earlier, which translates into a saving of Rs12,500 (without including cess) for everyone.
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