Budget: Seven tax changes that may affect you
Source | www.msn.com
Arun Jaitley did not change income tax slabs in the Union Budget but introduced a number of changes that may affect the taxpayers.
Here are some announcements that may affect you.
Complete coverage: UNION BUDGET
Cess on tax
The government has proposed to increase cess on personal income tax and corporation tax to 4 percent from 3 percent. This will increase the tax liability of taxpayers.
The finance minister also introduced a Rs 40,000 standard deduction for salaried employees and pensioners on income in transport and medical expenses.