How The New Tax Rate Cuts Impact People

PUBLISHED ON: February 1, 2020 | Duration: 26 min, 07 sec

  
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Finance Minister Nirmala Sitharaman announced significant income tax cuts in her Budget speech today. The government has given an option to individual taxpayers to either continue in the old rate, under which they can still claim tax exemption. Those who opt for the reduced new rate, however, are not eligible to claim several tax exemptions.How will the new tax regime impact people? Should people opt for it?
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