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The government has proposed to halve the income tax to 5 per cent for those earning between Rs 2,50,000 and Rs 5,00,000 per annum, in a relief to the middle class.

I-T dept to issue 'non-statutory' letters in case of no reply

So far, it has received replies from over 7 lakh people who have accepted making suspicious deposits.

17 Feb 2017 3:22 PM IST