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    Published On : Sat, Feb 1st, 2020

    Tax Rates Slashed, 10% to be Levied on Income Between Rs 5-7.5 Lakh

    No tax up to those earning Rs 5 lakh

    Income tax rates will be significantly reduced for those who forego reliefs, exemptions: Nirmala Sitharaman

    Income tax cuts:

    Cut to 10 per cent from 20 per cent for those earning between Rs 5 lakh and Rs 7.5 lakh

    Cut to 15 per cent from 20 per cent for those earning between Rs 7.5 and Rs 10 lakh

    Cut to 20 per cent from 30 per cent for those earning between Rs 10 and Rs 12.5 lakh

    Cut to 25 per cent from 30 per cent for those earning between Rs 12.5 lakh and Rs 15 lakh

    30 per cent tax rate still applicable for those earning above Rs 15 lakh

    No tax up to those earning Rs 5 lakh

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