Budget 2019: exact meaning of "zero income tax if taxable income below 5 lakh"

Tax queries 167 views 1 replies

Common man is not completely clear about the provision of "no tax on income upto 5 lakh" which has been cleverly inserted in the Budget 2019.

The following article on ET explains how one can take maximum benefits of this provision by investing in various various tax exempted avenues:

https://economictimes.indiatimes.com/wealth/tax/want-to-reduce-your-taxable-income-to-rs-5-lakh-heres-a-list-of-all-deductions-you-can-claim/articleshow/67807044.cms

However, it does NOT include the "exemption upto 2 lakh paid as housing loan interest"

Experts may throw light.

Best regards.

Replies (1)

Yes, it can be availed if payment made for Home loan EMI.


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