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Budget 2020: Room For Income Tax Relief Limited As Centre Faces Tax Shortfall, Says Report

Monday, January 27, 2020, 8:13 AM

Tax collections in the current fiscal may fall short of targets by as much as Rs 2 lakh-crore on faltering economy, leaving a very little-room for Finance Minister Nirmala Sitharaman for offering any meaningful reduction in personal income tax rates. Several experts including former Finance Secretary SC Garg have indicated at tax shortfall between Rs 2 lakh and 2.5 lakh-crore during the current fiscal.