Highlights of Union Budget 2020
01-02-2020 Sat 17:24
Finance Minister Nirmala Sitharaman has presented the Union Budget 2020. She has announced cuts in personal income tax on different categories, gave relief to companies on payment of dividends in the Union Budget for 2020-21.
Some of the main highlights of the union budget are as follows:-
* Under the new Budget, a new tax regime has been announced. Those who want to be in the old regime with exemptions can continue to pay at the old rates.
* For the financial year 2020-21, people earning up to Rs 5 lakh will not have to pay any income tax.
* Over 70 deductions have been removed. Companies will no longer be required to pay Dividend Distribution Tax (DDT).
* Bank deposit insurance cover had been increased from Rs 1 lakh to Rs 5 lakh per depositor.
* An allocation of Rs 69,000 crore announced for the health sector.
Watch the video for more insight.
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