New Income Tax slabs minus 70 exemptions: Revenue Secretary

Feb 01, 2020

New Delhi, Feb 01 (ANI): While addressing a press conference, Union Revenue Secretary, Ajay Bhushan informed that under the new tax regime government has removed 70 exemptions. "We took a comprehensive review of all exemptions and found close to 120 exemptions. We took a review of each item. In order to offer a simplified system, now the total exemptions which have been removed from the new system is, about 70," said Union Revenue Secretary Ajay Bhushan Pandey.