Question Bank - Banking & Financial Services

Here's the question bank on all the banking & financial services topics.

Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text
Button Text

As per the new income tax regime announced in the Union Budget 2020, the tax rate for taxable income between Rs. 5 lakh to Rs. 7.5 lakh has been reduced to:

A.
15%
B.
5%
C.
10%
D.
20%

Solution:

The correct answer is 10%. In Union Budget, income Tab slab has been reduced from 20% to 10% if the annual income is Rs 5 lakh - Rs 7. 5 lakh. This step was taken to reduce the tax burden on taxpayers. As per the Indian tax laws, taxpayers are divided into groups according to their taxable income. Income tax rates are applied to these groupings differently. These are called Income Tax slabs.

For more questions,

Click Here

Download Gyanm App

free current affairs for competitive exams

Scan QR code to download our App for
more exam-oriented questions

free current affairs for competitive exams

OR
To get link to download app

Thank you! Your submission has been received. You will get the pdf soon. Call us if you have any question: 9117343434
Oops! Something went wrong while submitting the form.