Union Budget 2016-17: Key announcements by FM Jaitley
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Income tax slabs to remain unchanged
Finance minister Arun Jaitley kept the income tax slabs unchanged for the next fiscal year in Union Budget 2016-17. Meanwhile, ceiling of tax rebate for tax payers with up to Rs 5 lakh annual income is proposed to be raised to Rs 5,000 from Rs 2,000 currently. This relief will Rs 3,000 per annum which will benefit 1 crore tax payers.