Published On : Sat, Feb 1st, 2020

Tax Rates Slashed, 10% to be Levied on Income Between Rs 5-7.5 Lakh

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No tax up to those earning Rs 5 lakh

Income tax rates will be significantly reduced for those who forego reliefs, exemptions: Nirmala Sitharaman

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Wenesday Rate
Wed 25 Dec. 2024
Gold 24 KT 76,300/-
Gold 22 KT 71,100/-
Silver / Kg 88,700/-
Platinum 44,000/-
Recommended rate for Nagpur sarafa Making charges minimum 13% and above

Income tax cuts:

Cut to 10 per cent from 20 per cent for those earning between Rs 5 lakh and Rs 7.5 lakh

Cut to 15 per cent from 20 per cent for those earning between Rs 7.5 and Rs 10 lakh

Cut to 20 per cent from 30 per cent for those earning between Rs 10 and Rs 12.5 lakh

Cut to 25 per cent from 30 per cent for those earning between Rs 12.5 lakh and Rs 15 lakh

30 per cent tax rate still applicable for those earning above Rs 15 lakh

No tax up to those earning Rs 5 lakh

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