what is declaration about income tax and goods and service tax in budget 2020
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Income Tax
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Income tax slab rates got changed
Finance Minister: Government has changed the Income tax slabs.
Income From Rs 2.5-5 Lakh tax 5%
Income From 5-7.5 Lakh tax 10%
Income From 7.5-10 Lakh tax 15%
Income From 10-12.5 Lakh tax 20%
Income From 12.5-15 Lakh tax 25%
Income Above 15 Lakh tax 30%
Income From Rs 2.5-5 Lakh tax 5%
Income From 5-7.5 Lakh tax 10%
Income From 7.5-10 Lakh tax 15%
Income From 10-12.5 Lakh tax 20%
Income From 12.5-15 Lakh tax 25%
Income Above 15 Lakh tax 30%
It is notable that such slab rates are only optional upon satisfying certain conditions specified there in ( not claiming certain deductions).So we cannot conclude them to be 'CHANGED' slab rates
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