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:
New Income Tax relief be like !!!#Budget2020 #budget pic.twitter.com/LRacYwSxDQ
— Righty Boy (@Righty_Boy) February 1, 2020
Middle class bhakts after listenting to the budget speech.#Budget2020 #IncomeTax pic.twitter.com/AI8AwkvINA
— eFree eSpeaker (@chakritweet) February 1, 2020
Public doing #IncomeTax calculation post #Budget2020 pic.twitter.com/BJ70nyZEaN
— Satpal Parmar (@satpalparmar) February 1, 2020
When you realize you are still a student and no scheme applies yet #IncomeTax pic.twitter.com/cVpVnqDAGR
— Aneeeev (@canisurvivee) February 1, 2020
#Budget2020 #IncomeTax hope this budget “fixes” some of the problems causing the slow down. Tax cut is good though pic.twitter.com/5hNPhIfY2T
— Animesh Mishra (@Animesh15276980) February 1, 2020
I would have been very happy with the new income tax slab if I didn’t have a home loan, now I am just confused. 🤷🏻♂️ #budget #Budget2020 #BudgetSession2020 #IncomeTax #tax pic.twitter.com/DLq7ZO7FYR
— Debankan Mukherjee (@debankan) February 1, 2020
#IncomeTax #BudgetSession2020
Salaried people be like: pic.twitter.com/MToRa1A7TM— Honest_taxpayer (@Honesttaxpayer6) February 1, 2020
CAs after seeing the complexity around the new #IncomeTax . pic.twitter.com/OH5Lq3LRIu
— Ranjith (@DevilsAdvcate) February 1, 2020
#IncomeTax @nsitharaman tax slabs changes in #BudgetSession2020 it’s not sitharaman but Muralidharan googly pic.twitter.com/LKkTtVS7zq
— Yogesh Kulkarni (@Y0geshKulkarni) February 1, 2020
What does this even mean? By not opting for deductions & exemptions, we need to pay the complete tax applicable for that income bracket? So what’s the use of reducing rates. I’m confused.#budget2020 #IncomeTax pic.twitter.com/QeITnBhkfd
— 🌙Brida✨ (@__brida_) February 1, 2020
New Income Tax regime explained. #BudgetSession2020 #Budget2020 #IncomeTax pic.twitter.com/M9FvvLi9rD
— Drunk Journalist (@drunkJournalist) February 1, 2020
#IncomeTax for middle class
Till last night. Going forward pic.twitter.com/HycW2yWEx2
— Main Samay Hoon 2.0 (@MSamayhoon) February 1, 2020
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.
