Budget 2020: Tax cut for individual taxpayers

Tax cut for individual taxpayers in the Union Budget 2020 announced by Finance Minister Nirmala Sitharaman on Saturday.

• No tax on income up to Rs 5 lakh

• 10 % tax on income between Rs 5L -Rs 7.5 L

• 15 % tax on income between Rs 7.5 L-Rs 10 L

• 20 % tax on income between Rs 10 L-Rs 12.5 L

• 25 % tax on income between Rs 12.5 L-Rs 15 L

• 30 % tax on income above Rs 15 lakh