The average buoyancy in personal income tax of seven years preceding these two years comes to 1.1. However, the buoyancy in personal income tax for financial years 2016-17 and 2017-18 (RE) is 1.95 and 2.11 respectively. However, income tax data analysis suggests that major portion of personal income-tax collection comes from the salaried class. Senior citizensA life with dignity is a right of every individual in general, more so for the senior citizens. The existing three per cent education cess will be replaced by a four per cent Health and Education Cess to be levied on the tax payable.

Source: The Telegraph February 01, 2018 22:41 UTC