Union Budget 2020: Nirmala Sitharaman announces new tax regime, watch here

Finance Minister Nirmala Sitharaman on Saturday announced cuts in the income tax while presenting the Union Budget 2020 in the Parliament. The finance minister came out with a new income tax regime.

Under the new slab, for incomes of up to Rs 5 lakh per year, there will be no income tax. Whereas between Rs 5 lakh and Rs 7.5 lakh per year, the income tax will be 10 per cent. For more, watch this video.