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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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