An important announcement has been made for income tax payers. Union Finance Minister Nirmala Sitharaman has announced that no changes have been made in the tax structure this year either. Therefore, the tax structure will be the same this year as last year.
2.5 lakh - no tax
2.5 lakhs to 5 lakhs - 5 per cent tax
5 lakhs to 7.5 lakhs - 10 per cent
7.5 lakhs to 10 lakhs - 15 per cent
10 lakhs to 12.5 lakhs - 20 per cent tax
12.5 lakhs to 15 lakhs - 25 per cent
Over 15 lakhs - 30 per cent tax