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    Question

    Consider the following statement:

    I. Highest surcharge rate on income above 5 crore to be reduced from 37% to 30% under new regime

    II. Extending benefits of standard deduction to new tax regime for salaried class and pensioners

    III. Increasing tax exemption limit to 25 lakh on leave encashment on retirement for non-government salaried employees

    Which of the above statement is/are not correct?

    A I only Correct Answer Incorrect Answer
    B II and III only Correct Answer Incorrect Answer
    C III only Correct Answer Incorrect Answer
    D I, II and III Correct Answer Incorrect Answer
    E II only Correct Answer Incorrect Answer

    Solution

    Highest surcharge rate on income above 5 crore to be reduced from 37% to 25% under new regime

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