*INDIA BUDGET: PROPOSE TO REMOVE DIVIDEND DISTRIBUTION TAX FOR COMPANIES
DDT Removed and now is taxable in hands of Recipient.
Individual to pay tax 10% for income Rs. 5 to 7.5 Lakhs (down from 20%)
Rs. 7.5L to 10 L: Income tax rate is 15% (down from 20%)
Rs. 10 to 12.5 L: Income tax rate is 20% (down from 30%)
Rs. 12.5L to 15L: Income tax rate is 25% (down from 30%)
ABV 15L - Unchanged at 30%
This is applicable if an individual foregoes all Deductions claimed by him.
