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Budget 2020: FM announces new income tax slabs, simplifies direct tax regime

Finance Minister Nirmala Sitharaman today slashed the personal income tax rate for individuals for fiscal year 2020-21. Under the new regime, taxpayers will pay 10%, 15%, 20% and 25% for incomes between Rs 5-7.5 lakh, Rs 7.5-10 lakh, Rs 10-12.5 lakh and Rs 12.5-15 lakh.

|Updated: Feb 01, 2020, 03:26 PM IST

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Finance Minister Nirmala Sitharaman today slashed the personal income tax rate for individuals for fiscal year 2020-21. Under the new regime, taxpayers will pay 10%, 15%, 20% and 25% for incomes between Rs 5-7.5 lakh, Rs 7.5-10 lakh, Rs 10-12.5 lakh and Rs 12.5-15 lakh.

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Zee News Zee News Videos Zee News Channel live news Nirmala Sitharaman budget 2020 Budget FM Sitharaman Budget with Zee Union Budget 2020 Finance Ministry Ministry of Finance Income Tax Income Tax payers Income tax news Income Tax slabs news

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