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Two options for Income Tax slab explained | Master Stroke
Finance Minister Nirmala Sitharaman presented Union Budget 2020 in the parliament today. Contrary to Finance Minister Nirmala Sitharaman's claim that the new personal tax and slab regime would be simplified, tax practitioners claimed that the proposed structure is not only complex, but it also does not make sense for most of the taxpayers to make the shift.
They also noted that taxpayers with business income can not switch back to old regime after moving to the new tax structure. Watch this report.
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