(SPAM) New tax rates will be implemented from 1 Jan 2017
A post showing new tax rates to be implemented from 1st Jan 2017 has been circulating. Its false news. Please check the verification section of this article for more details.
Post Information:
Below post has been circulating on social media
New tax rates will be implemented w.e.f.01.01.2017 for salaried people. e.g. Income Tax for annual income of 7lacs will be as,
1)upto 4 lacs ~ IT=0%
2)For next 1lac @2% ~ IT = Rs.2000.
3)For next 2 lacs @Rs.2000+5% ~ IT=2000+10,000=Rs.12,000.
Hence total IT will be =1+2+3
=0+2000+12000
=14,000.
(excluding your annual deductions claimed under IT benefits.)
And thats it.
Verification:
The watermark in the picture shows Dawood Associates Law Firm, which is a firm in Pakistan. Please find a link to their Facebook Page and this picture.
Post Date: 30 Nov 2016
Post ID: #1385
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