Budget 2020: Historical discount in revenue tax, no tax might be levied as much as 5 lakhs

by Jeremy Spirogis
Arvind Kejriwal condemned mob attack on Nankana Sahib Gurdwara

new Delhi. In the primary finances of the second time period of the Modi authorities, there was a historic lower in revenue tax. Now these incomes as much as 5 lakhs every year is not going to need to pay any tax. Middle class has benefited essentially the most on this tax. The authorities has modified the tax slab considerably. Giving reduction to tax payers, the Finance Minister stated.

10% tax must be paid for incomes between 5 to 7.5 lakh rupees.
Income tax of seven.5 to 10 lakh must pay 15% tax.
20% tax must be paid for incomes from 10 to 12.5 lakh rupees.
25 p.c tax must be paid for incomes as much as Rs 12.5-15 lakh.

This would be the new tax slab
5% – 2.5 – 5 lakhs on incomes.
10% – 5-7.5 lakhs on incomes.
15% – 7.5 – 10 lakhs on incomes.
20% – 10 – 12.5 lakhs on incomes.
25% – 12.5 – 15 lakhs on incomes.
30% – On incomes above 1.5 million and above. <! –

->
                 

Leave a Comment