Budget 2020-21: Personal Income Tax & Simplification of Taxation
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Budget 2020-21: Personal Income Tax
Those earning up to Rs 5 lakhs are exempt from paying taxes
10% tax for everyone earning Rs 5 - 7.5 lakhs against the current 20%
15% tax for everyone earning Rs 7.5 - 10 lakhs against current 20%
20% tax for everyone earning Rs 10 - 12.5 lakhs against current 30%
25% tax for everyone earning Rs 12.5 - 15 lakhs against the current 30%
Those earning more than Rs 15 lakhs get no exemptions
Rajya Sabha TV | RSTV
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