Budget 2020: Income Tax Rates Cut For Those Who Forego Exemptions Under New Option

Finance Minister Nirmala Sitharaman today presented the longest-ever Union Budget 2020 speech in parliament as the government unveiled a budget vowing to boost people's income and purchasing power. In a major relief for the salaried class, the government proposed to cut income tax rates and change slabs to lower tax incidence for those earning up to Rs 15 lakh a year. She also asserted that "tax harassment" would not be tolerated.

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