India annual budget: Taxation

World Wednesday 01/February/2017 12:58 PM
By: Times News Service
India annual budget: Taxation

* Proposes cuts in personal income tax for those at bottom end of income scale

* 2017/18 total tax revenue seen at 12.27 trillion rupees

* 2017/18 total revenue receipts seen at 15.16 trillion rupees

* Proposes to reduce income tax rate for medium and small enterprises with annual turnover up to 500 million rupees to 25 percent

* Extends relaxation on withholding tax on foreign investor's interest income from debt until June 30, 2020

* Proposes change in capital gains tax in real estate, land