BY A STAFF REPORTER: Finance Minister Nirmala Sitharaman has made a big announcement for women in the Union Budget. In his speech in Parliament on personal taxes under the new tax structure, the finance minister said, "There is no tax to be paid on the income of 7 lakh annually.
5 per cent income tax will have to be paid from Rs 3 lakh to Rs 6 lakh. The upper limit of income tax has been increased from Rs 5 lakh to Rs 7 lakh. Income between Rs 12 lakh and Rs 15 lakh will have to pay 20 per cent tax. In addition, 30 percent tax will have to be paid on income above Rs 15 lakh. This time, Congress leader Karti Chidambaram has commented on this issue. He said, "I believe in a low tax system. So, any tax cut is welcome, as putting more money in the hands of the people is the best way to revive the economy. ''
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