Union Budget 2020: Relief for Indian taxpayers
Edited By WION Video Desk
Published: Jan 31, 2020, 21:35 IST | Updated: Jan 31, 2020, 21:35 IST
The Indian Finance Minister Nirmala Sitharaman while presenting Union Budget for FY 2020-21 announced the new income tax slab rate. She announced, "Twenty per cent tax for individuals annually earning between Rs 10 lakh and Rs 12.5 lakh, 25 per cent for income between Rs 12.5 lakh and 15 lakh, 30 per cent for above Rs 15 lakh income under the new slab," For those who are earning upto Rs 5 lakh in a year will pay no tax, "For income between Rs 7.5 lakh and Rs 10 lakh per annum, the tax rate has been reduced to 15 per cent from 20 per cent and 10 per cent tax for income between Rs 5 lakh and Rs 7.5 lakh per anum for those who forego deductions and exemptions. This is the second budget for Sitharaman, who became the second woman finance minister after Indira Gandhi to do so in the history of independent India.
trending videos
)
CIA & Mossad Try to Trace Mojtaba Khamenei Using Human Intel | GRAVITAS
)
Iran's Launches Fire on U.S. Bases in Jordan & Kuwait | U.S. CENTCOM Denies Attack & Damage
)
China's Hidden Desert Healing Secret | Inner Mongolia's Natural Salt Therapy Attracts Tourists
)
Australia Refinery Fire: Refinery Pumps Out About 10% of Australia's Fuel
)
U.S. Govt's Map of Africa Sparks Controversy | Wion
)
El Niño Looms as Oceans Warm Up
)
Vikram-`1 set for maiden launch from Sriharikota
)
India: Rameshbabu Vaishali Secures 2026 Women’s Candidates Victory
)
Michigan: Record Floods Expose Vulnerabilities
#Metoo haunts Malayalam cinema: Actor Mohanlal breaks silence on sex scandal
)
New UNESCO wonders worldwide, Mayan legends & a bike chef in Denmark
)
Iran-Linked Cyberattack? FBI Probes Minnesota Water System Hack |US Critical Infrastructure Targeted
)
Ukraine Strikes Russia | Spain Migrant Crisis | Europe Migrant Crisis | Hamas Agrees to Trump Deal
)
Russia-Ukraine War: Zelensky fears 500,000 new Russian troops
)
Europe's Heatwave Uncovers WWII Secrets Beneath Rivers | Hidden Relics Emerge as Water Levels Plunge
)
Israel intercepts Gaza Sumud Flotilla vessels: What we know so far
)
Trump: Israel to withdraw from Gaza Strip
)
Sudan Civil War: UN Warns of Regional Spillover, 700 Killed in Drone Strikes
)
European-Led NATO in Planning if Trump Pulls Out
)
Trump Announces Hamas Disarmament Deal | Israel, Hamas Yet to Fully Agree on Gaza Plan
)
Global Finance Leaders to Meet Amid War Shock
)
Cauvery Water Dispute Escalates: Karnataka Urges Tamil Nadu CM Vijay to Postpone Talks
)
ISIS Global Operations Chief Killed By US & Nigerian Forces
)
Greece's Ancient Sites Under Climate Strain; 19 Sites at Urgent Climate Risk
)
120 Bahadur, Border, Uri: The Surgical Strike: The Changing Face of Indian War Films
)
Central Bank Policy Will Depend on Oil Price
)
Iran Strikes U.S. Base in Kuwait as Trump Faces Growing Pressure Over West Asia War
)
Trump Dashes Zelensky's Patriot Dream as Putin Exploits Ukraine's Air Defence Gap
)
Ranbir Kapoor Makes Time 100 Most Influential List | Ranbir Kapoor to Play Lord Rama
)
Art meets nature in Australia
)
US-Saudi nuke deal: Proposed US-Saudi nuclear pact raises global alarm
)
How West Asia Conflict Affects India
)
DMK Accuses TVK of BJP Nexus After Protest Ban | Stalin Targets Vijay Over NEET Row
)
Kashmir's Tourism Boom Sparks Environmental Alarm | 90% of New Hotels Allegedly Illegal
)
Hungary PM-Elect Vows State Media Overhaul
)
UK Elections: Opinion Polls Predict Debacle for Labour in Upcoming UK Elections
)
U.S. Gives Millions in Aid to Africa, but Gets Its Map Wrong | Race to Power
)
Iran Launches Surprise Strike on U.S. Base in Jordan | West Asia War Escalates | US- Iran War