BUDGET 2020
Union Finance Minister Mrs. Nirmala Sitharaman delivered the longest budget speech of around 2 hours 45 minutes. A lot was expected from this year's budget as the economy is in the midst of a slowdown and a strong budget was necessary to put the economy back on track. So lets have a look at the key highlights of the budget 2020 : 1. DIRECT TAX The Government has introduced a new tax regime for those foregoing exemption and deductions. The new tax rate is optional. To simplify tax system more than 70 deductions and exemptions have been removed. TAXABLE INCOME SLAB TAX RATE Upto Rs. 5 lakh Nil Rs. 5 lakh to Rs, 7.5 lakh 10% Rs. 7.5 lakh to Rs. 10 lakh 15% Rs. 10 lakh ...