Tax Slabs reduced from 7 to 5 as follows :
.
0-3 lakh- nil
3-6 lakh -5%
6-9 lakh - 10%
9-12 lakh-15%
12-15 lakh -20%
.
Above 15 lakh - 30%
The highest effective tax rate has been reduced from 42.7% to 39%.
.
No change in Long Term Capital Gain Tax