Budget 2020: All Income Tax Exemptions to Go In The Long Run, Says Nirmala Sitharaman

Union minister Nirmala Sitharaman has said that the exemptions given to taxpayers now will eventually be removed. Speaking of the option given to tax payers in this union budget -- to remove exemptions and pay lower taxes -- Ms Sitharaman said while the intention this time was to "reduce rates and simplify structure", the government "will be able to gradually remove all exemptions".

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