Tax relief for tax payers

Tax Relief:

No tax on income up to Rs 7 lakh a year. Increase rebate limit to 7 lakh on personal income tax: Only 5% tax on Income of 9 lakh in new regime.

ITR processing period reduced: The income tax returns processing period has been reduced by 16 days. New I-T return forms introduced: The government has introduced new Income Tax return (ITR) forms for easier filing of returns.