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     EduGorilla 
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    Budget 2017-18 proposes certain reforms in tax administration. These reforms include :

    (I) Cash transactions above Rs. 5 lakh banned.

    (II) Maximum amount of cash donation that can be received by a political party is Rs. 2,000.

    (III) MSMEs’ (annual turnover less than Rs.50crore) rate reduced to 25%.

    (IV) Personal income tax: Rate reduced to 5% for income bracket of Rs. 2.5-5 lakh

    Which of the above statements are correct?

    Options :-

    1. I , II and III

    2. II, III and IV

    3. I, II and IV

    4. I, II, III, IV

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