Tax Administration Reforms Commission to be setup
Tax credit of Rs.2,000 for income up to Rs.5,00,000
10% surcharge on income above Rs.1 crore
Additional surcharge on taxes for 1 year
Education cess to continue at 3%
Donations to National Children's Fund will be eligible for 100% tax deduction
TDS of 1% on land deals above Rs.50 lakhs with the exclusion of agricultural land
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