In the Union Budget announced today, Finance Minster Arun Jaitley assured honest tax payers that they will be treated with dignity. And, looks like he has lived up to his promise. In a bold move the Finance Minister took personal tax measures which will put more money into the hands of tax payers. He halved income tax rates for individuals earning Rs 2.5- 5 lakhs today.

Arun Jaitley PCHe said, “I, propose to reduce the existing rate of taxation for individual assesses between income of Rs 2.5 lakhs to Rs 5 lakhs to 5 percent from the present rate of 10 percent.  This would reduce the tax liability of all persons below Rs 5 lakh income either to zero (with rebate) or 50 percent of their existing liability.”