Can Middle class hope for a big relief in 2018-19 Budget?
According to sources in the last Budget, Finance Minister Arun Jaitley left the slabs unchanged but gave marginal relief to small tax payer by reducing the rate from 10% to 5% for individuals having annual income between Rs. 2.5-5 lakh. Meanwhile in the next Budget to be unveiled on February 1, the government could lower tax rate by 10% on income between 5-10 lakh, levy 20% rate for income between Rs.10-20 lakh and 30% for income beyond Rs. 20 lakh. At present, there is no tax slab for income be