Union Budget 2016: How much you will save on FM Arun Jaitley’s tax proposals

By: | Updated: February 29, 2016 2:43 PM

Finance Minister Arun Jaitley on Monday said that salaried people upto Rs 5 lakh will get Rs 3,000 relief per year, which will benefit 2 crore tax payers.

Union Budget 2016: tax savingUnion Budget 2016: Finance Minister Arun Jaitley on Monday said that salaried people upto Rs 5 lakh will get Rs 3,000 relief per year, which will benefit 2 crore tax payers.

Union Budget 2016: Finance Minister Arun Jaitley on Monday said that salaried people upto Rs 5 lakh will get Rs 3,000 relief per year, which will benefit 2 crore tax payers.

“In order to lessen tax burden on individuals with income not exceeding Rs 5 lakhs, I propose to raise the ceiling of tax rebate under section 87A from Rs 2,000 to Rs 5,000. There are 2 crore tax payers in this category who will get a relief of Rs 3,000 in their tax liability,” Arun Jaitley said while present budget speech in Parliament.

We take a look at how much you will save according to your income slab

tax outgo

Calculations in partnership with Felix Advisory

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