Honourable Finance Minister (FM) Nirmala Sitaraman in her budget has introduced a new
taxation regime under personal taxation. Instead of giving relief to all the
Individual & HUF by increasing the tax slabs directly, Budget 2020 have
proposed to introduce new section 115BAC in the Income Tax Act 1961 in which
Individuals or HUF have been given an option to give up various exemptions and
get the advantage of lower tax rates. Following is the comparison of the existing
tax rates and the new tax slabs.
Showing posts with label Structural Shift in Taxation under Income Tax Act as per the Budget 2020. Show all posts
Showing posts with label Structural Shift in Taxation under Income Tax Act as per the Budget 2020. Show all posts
Saturday, 4 April 2020
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