HOW TO PAY LESS TAX THIS YEAR AND BEYOND



With a decrease in tax rate from 10% to 5% for total income between Rs.2.5 lakh  and 5 lakh ,ther is tax saving of up to Rs.12,500 per year and 14,806 fr those with income above Rs.1 crore.

 Tax rebate is reduced to Rs.2,500 from Rs.5,000 per year for taxpayers with income up to Rs.3.5 lakh. Due to the combined effect of change in tax rate and rebate an individual with taxable income of Rs,3.5 lakh will now pay tax of Rs.2,575 instead of Rs.5,150 earlier. 

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