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Budget 2020 Quick Recap: Key Points From Nirmala Sitharaman's Last Financial Blueprint


Budget 2020 Quick Recap: Key points from Nirmala Sitharaman s last financial blueprint
A month after the rollout of Budget 2020, the country was hit by the COVID-19 jolt. The pandemic brought most economic activities to a standstill, as a countrywide total lockdown was imposed.
January 29, 2021 / 08:34 AM IST
Ahead of Finance Minister Nirmala Sitharaman s third Union Budget - scheduled to be tabled on February 1, 2021 - it is imperative to recall major points from her last financial blueprint. Here s a quick recap of Budget 2020.
Income Tax changes: A new tax regime was announced, proposing 10 percent tax on annual income between Rs 5-7.5 lakh, 20 percent on Rs 7.5-10 lakh, 25 percent on Rs 10-12.5 lakh, and 30 percent on Rs 15 lakh and above. Those switching to the new tax slab were, however, required to forego their tax rebates and exemptions. The option of continuing under the old tax regime was also granted. ....

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