Now there is no income tax on those earning less than Rs 7 lakh annually
New Delhi: There are five things in personal income tax. The middle class does not have to pay any tax up to Rs 5 lakh, now it will be Rs 7 lakh annually. Income between Rs 6-9 lakh will now be taxed at 10 per cent.
Those earning up to Rs 15.5 lakh will get a benefit of Rs 52,000. Now there will be no tax on income up to three lakh. Those earning between Rs 12-15 lakh per annum will be taxed at the rate of 20 per cent.