Perhaps to encourage more taxpayers into the system, the minister has reduced the tax liability for those with annual income between Rs 2.5 and 5 lakh at 5 per cent instead of the existing 10 per cent. However, for those earning an annual income is Rs 50 lakh and Rs 1 crore, the surcharge of 10 per cent will stay. And, the surcharge on individual annual income of Rs 1 crore or more remains unchanged at 15 per cent. The icing on the cake however, is the proposal for a single-page income tax return filing form for taxable income under Rs 5 lakh.