<b>Debashis Basu:</b> FM offers olive branch to taxpayers

FM has also announced that there would be no scrutiny for the first time taxpayer

Coming on the heels of the note ban and the disruption that awaits us in the form of Goods and Services Tax, investors, middle class and small businessmen heaved a sigh of relief with a budget that has something to please all, is fairly logical in its approach, and has very few nasty surprises. In fact, for the spectrum of small businessmen and salaried professionals, the budget has a lot of good stuff.
 
From a reduction in the period of holding that qualifies for capital gains tax, to imposing limits on spending, lower income tax at the first slab