Finance Minister Nirmala Sitharaman has slashed the personal income tax rates but provided to forgo exemptions, as she announced the Union Budget for the Financial Year 2020-2021 today, in the Lok Sabha. As per the new regime, persons earning upto Rs. 5 lakhs will be exempted from paying any taxes. Persons having an income between Rs. 5 lakhs and 7.5 lakhs will be taxed at 10% of...
