Wishesh Magazine February 2020 Wishesh Magazine February 2020 | Page 24

COVER STORY
She paid heed to every sector and has
given us the necessary information that is
aligned with the economic development
and welfare of the country.
Points You Should Know
No 1 - Leverage For
Income Tax Payers
The income tax slabs have been reduced
keeping middle-class income taxpayers in
mind. Around 70% of the tax rates have
reduced. This is what you should know!
> Individuals earning an income less than
5lakh p.a are exempted from paying tax
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> Income taxpayers earning between
5-7.5 lakhs have to pay only 10% tax
instead of 20% tax
> Income taxpayers earning between 7.5
- 10 lakhs have to pay 15% tax instead of
20% tax
> Income taxpayers earning between 10
- 12.5 lakhs have to pay 20% tax instead of
30% tax
> Income taxpayers earning between
12.5 - 15 lakhs have to pay 25% tax
instead of 305 tax
> Income taxpayers earning more than 15
exemption for tax by registering online
No 2 - Housing Tax Facility
The loan sanction date for buying a house and
availing additional discount of 1.5 lakhs will be
extended by one year, .I.e, up to March 31st,
2021.
No 3 - Investment To Strengthen
Skills In India
The Government has proposed to spend
around 3,000 crores for providing skill training
to youngsters and this was discussed during
the 90th Budget Presentation. A part of the
government’s stake will be sold to IDBI.
No 4 - Infrastructural Updates
> DDT tax is exempted. Tax will be paid > The PPP model to set up five new smart cities
> The Department of Transportation will be
> Charitable institutions can claim an > By 2023 there will be innovation in the
lakhs are not eligible for a tax exemptions
only at the hands of recipients
WWW.WISHESH.NET | FEBRUARY 2020
allotted Rs. 1.7 lakh crore
Highway construction. There will be a Delhi-