Budget 2017 may provide tax gain for common people to soothe note ban pain

Income tax payers will be biggest gainers as tax slabs might be extended

Budget 2017 is likely to make a recast of direct taxes focusing on both corporate tax and personal income tax to give a boost to the economy that's struggling in the wake of demonetisation. 

The recast is likely to speed up progress to a corporate tax rate of 25%, already a stated objective of the government, and offer substantial reliefs for small taxpayers who have backed demonetisation. 

"With the goods and services tax (GST) to come from next financial year, there isn't much to be done on the indirect taxes side. The customs duty structure could see some changes," a