Income Tax
- Between 5 lakh and 7.5 lakh {Reduced to 10% from the current 20%}
- Between 7.5 lakh to 10 lakh {Reduced to 15% from the current 20%}
- Between 10 lakh to 12.5 lakh {Reduced to 20% from the current 30%}
- Between 12.5 lakh to 15 lakh {Reduced to 25% from the current 30%}
- Above 15 lakh {Continue at 30%, but without exemptions}
- Over 70 deductions have been removed.
- Companies will no longer be required to pay Dividend Distribution Tax (DDT).
- Aadhaar-based verification for GST compliance to be introduced.
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