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New income tax regime in Budget 2020 greeted with jokes, memes on social media

Although Sitharaman announced major tax slabs for the salaried class giving them relief, not everyone was happy with it as it came with a condition. She announced major tax slab for the salaried class, in the budget but provided they forgo exemptions.

By: Trends Desk | New Delhi | Updated: February 2, 2020 4:30:48 pm
Budget 2020, Nirmala Sitharaman, Union budget 2020, New tax regime, Tax with deduction, Optional tax regime, Memes on Income tax regime, Trending, Indian Express news The Finance Minister announced a new tax regime but it was received with memes on social media.

Finance Minister Nirmala Sitharaman presented the Union Budget in the Parliament on Saturday and as expected there were plenty of announcements for taxpayers. But though the Finance Minister announced major changes in the tax slabs for the salaried class, not everyone was happy since it came with the condition that they forgo all these tax-saving exemptions. Sitharaman also said that the government has removed 70 exemptions and deductions with a view to simplify the tax regime. (Highlights of Budget 2020

While some were happy with the new tax regime, others weren’t thrilled about it. Many people tweeted memes and jokes, and the new income tax regime trended on Twitter. Here are some reactions:

Breaking her own record for the longest Budget speech in 2019, Sitharamam listed three core themes for the Budget — aspirational India, economic development for all and a caring society.

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