budget 2020 updates & highlights

budget 2020 updates & highlights

Budget 2020 Updates: Finance Minister Nirmala Sitharaman gave the longest budget speech ever on Saturday. In a nearly three-hour speech, Nirmala announced several new schemes, as well as a major change in the tax slab. After the presentation of the General Budget, Prime Minister Narendra Modi addressed the country. He said that I congratulate Finance Minister Nirmala Sitharaman and his team for the first budget of this decade, which also has vision and action.

Nirmala gave big exemption in tax slab, but conditions apply ... Finance Minister Nirmala Sitharaman presented the general budget on Saturday. The central government has made a big change in tax slabs and introduced some new slabs. But with this some conditions have also been imposed, according to which people will get the benefit of this change.

What has changed in the tax slab?

5% - 2.5 - 5 lakhs on earning.

10% - 5-7.5 lakhs on earning.

15% - 7.5 - 10 lakhs on earning.

20% - 10 - 12.5 lakhs on earning.

25% - 12.5 - 15 lakhs on earning.

30% - On earning above 15 lakh and above.

How to get new discount?

The Finance Minister has announced that the new slab will be applicable will be optional. If a tax payer has to take advantage of these facilities, then he will have to renounce the discounts, which are still available. That is, if you have a total of 70 issues like insurance, investment, house rent, children's school fees, on which the exemption will have to be discarded. Earlier, while giving tax, information on all these things was exempted from tax.