Income Tax Budget 2020 announced by the Finance Minister Nirmala Sitharaman. The Minister proposes a new simplified income tax regime in her second Budget speech. The Union Budget 2020 proposes new income tax rates for taxpayers.
Have a look at the new income tax rates:
Income tax rates will remain unchanged at 30% for people earning above Rs 15 lakh.
The budget is not merely a statistical statement of the estimated receipts and expenditure of the government. It is a reflection of the policies and objectives of the government, which the government wants to fulfill through the budget. The notable objectives that the government tries to achieve by budget or by budget related policy.
List of items that will become Cheaper
List of items that will become Costlier
Wellness, Water and Sanitation
A CARING SOCIETY
Art & Culture
MSME & Corporate Sector
Strategic Disinvestment & Privatization
Finance Minister Sitharaman proposes to sell the Government’s stake in the Life Insurance Corporation of India (LIC). For this purpose, the LIC IPO will be launched.
ECONOMY & POLICY
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