Live: Union budget 2020-21
February 01, 2020
New Delhi: Union Finance minister Nirmala Sitharaman presenting union budget 2020-21.
Gujarat in Union Budget:
– With approval of regulatory authorities, GIFT IFSC will now house International Bullion Exchange. It will enable India to enhance its position worldwide and will lead to better price discovery of gold.
– Maritime museum to set up in Lothal near Ahmedabad.
– Dholavira archaeological site to be developed as iconic site with onsite museum. High-speed train between Mumbai and Ahmedabad will be actively pursued.
Income Tax:
Under the new personal income tax regime, Tax rates for individual tax payers if no deduction,
Tax rate – Income
10% – Rs.5-7.5 lakh
15% – Rs.7.5-10 lakh
20% – Rs. 10-12.5 lakh
25% – Rs. 12.5-15 lakh
30% – Above Rs.15 lakh
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