Here are the highlights from Budget 2017:


* Jaitley announced a reduction in the tax rate in the income tax slab of Rs 2.5 lakh to Rs 5 lakh to 5% from 10%.


*Present burden of taxation mainly on salaried class. 


* All other categories of taxpayers in subsequent brackets will get benefit of Rs. 12,500. 

 

* Surcharge of 10 per cent to be levied on persons earning between Rs. 50 lakh to Rs. 1 crore.

 

* 10 pc surcharge on individual income above Rs 50 lakh and upto Rs 1 cr to make up for Rs 15,000 cr loss of due to cut in personal I-T rate.

 

*Surcharge of 10% for those whose annual income is Rs 50 lakh to Rs 1 crore

 

* Existing surcharge of 15% on people earning more than 1 crore will continue: Jaitley