New Delhi: Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2020, announced income tax rate cuts for those who forego relief and exemptions. No tax should be paid by people who have annual incomes below Rs 5 lakh, while the rate has been reduced to 10 percent (from 20 percent) for those with income between Rs 5 lakh to Rs 7.5 lakh. Instead of 30 percent, those who earn income between Rs 7.5 lakh to Rs 10 lakh will now have to pay only 15 percent tax and those with income between Rs 10 lakh to Rs 12.5 lakh should pay only 20 percent. Those who have income between Rs 12.5 lakh to Rs 15 lakh will have to pay 25% and those who have income above Rs 15 lakh will remain to be 30 percent. #MalayalamNews #MalayalamLatestNews #KeralaNews Connect with Mathrubhumi News: Visit Mathrubhumi News's Website: http://www.mathrubhumi.com/tv/ Find Mathrubhumi News on Facebook: https://www.fb.com/mbnewsin/ ----------------------------------------------------- Mathrubhumi News (മലയാളം: മാതൃഭൂമി ന്യൂസ്) is a 24-hour Malayalam television news channel and is one of Kerala's most viewed TV channels. Owing to its varied presentation style and reliable content, Mathrubhumi News has become the fastest growing news channel in Kerala. More than just a news channel, Mathrubhumi News features a host of programmes that relate to various aspects of life in Kerala. Some of the frontline shows of the channel include: Super Prime Time, the No.1 prime time show in Kerala, the woman-centric news programme She News and Nalla Vartha a news program that focuses on positive news. Mathrubhumi News is an initiative by The Mathrubhumi Printing & Publishing Co. Ltd. Mathrubhumi News. All rights reserved ©.