14,Feb
FM tried to confuse us with technicalities in order to hood-wink the middle-class
. Hope that FM will do away with personal charges and cheap-shots
. If Income exceeds Rs.12Lacs, then tax is to be paid on whole income, and not just on the incremental income.
. Rs 12 lakh is a Tax rebate, not a Tax exemption; entire income is taxed if exceeds Rs.12 Lac.
. If someone earns Rs.12.76 Lacs as annual income, then tax will be paid on entire Rs.12.76 Lacs and not on Rs.76 k alone.