#Union Budget 2020-2021: Simplied Personal Income Tax Regime Introduced - (01 Feb 2020)

DIRECT TAXATION

Central Government has introduced a new simplified personal income tax regime. The same is as follows (i)Individual to pay tax 10% for income Rs. 5 to 7.5 Lakhs (down from 20%), (ii) Rs. 7.5L to 10 L: Income tax rate is 15% (down from 20%) and (iii) Rs. 10 to 12.5 L: Income tax rate is 20% (down from 30%).

Tags : UNION BUDGET   PERSONAL INCOME TAX REGIME  

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