|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
Giving a small relief to tax payers, Finance Minister P. Chidambaram today announced a tax credit of Rs 2,000 for persons with income up to Rs 5 lakh.
The proposal, he said, will benefit 1.8 crore tax payers entailing a revenue sacrifice of Rs 3,600 crore. The other slabs and rates have been kept unchanged in view of constrained economy, he said.
"In a constrained economy, there is little room to raise tax rates or large amounts of additional tax revenues. Equally there is little room to give away tax revenues or the tax base. It is time for prudence, restraint and patience," Chidambaram said.