Tax experts give thumbs up Arun Jaitley’s Budget. Here’s what their analysis says

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The Prime Minister Narendra Modi -led Indian Government was looking to soothe pains of the common man after the demonetisation burns and the Finance Minister Arun Jaitley announced few tax concessions for the common man.

While announcing the tax measures in his Budget 2017 , Jaitley said the income tax rate for people earning income between Rs 2.5 lakh and Rs 5 lakh will be 5%. Presently, it is at 10%.

Also, the FM has levied a surcharge of 10% on people earning an income between Rs 50 lakh and Rs 1 crore. Also, 15% surcharge on income above Rs 1 crore will continue.

Also, the net revenue loss on direct tax proposals amounts to Rs 20,000 crore and the net tax revenue grew by 17% in 2015-16.

Experts welcomed the move, saying this is a fresh breeze of air, adding low income earners have been given relief.

Here’s what the experts’ analysis looks like

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