Budget 2017-18| Income tax reduced to 5% for those earn between Rs 2.5 lakh and Rs 5 lakh; surcharge of 10% on Rs

Finance Minister Arun Jaitley on Wednesday presented the Union Budget 2017-18 in Parliament. The income tax rate have been reduced from 10 per cent to 5 per cent for those with the income between 2.5 lakh to Rs 5 lakh. The finance minister proposed a surcharge of 10 per cent for those with annual income of Rs 50 lakh to 1 crore.