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Rs 3000 to be paid to the workers who exceeds the age of 60. (42 crore people to be
affected)
Workers will have to pay 55rs if age is btw 18 to 29 and 100 rs if age is 29 or above
3. Individual having income upto five lakhs are not needed to pay tax.
Individual having gross income of 650000 he is not needed to pay tax if he invests 150000
into PF or in other govt. Selected funds or in insurance.
( 3 crore tax payers to be benefited out of 7 crore in total)
(changes are made into IT act 87 A)
(BENEFIT OF 12500 FOR BETWEEN 250000 AMD 500000)