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Slabs After the Interim Budgets

02 February 2019

plzz provide a Clear cut info on how will the Slab Structure look after the Proposed Budget read out yesterday!
Is ₹500000 made the Basic Exemption Limit or Provided as a Rebate under Section 87A?

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160551 Points)
Replied 02 February 2019

Provided as a Rebate under Section 87A.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160551 Points)
Replied 02 February 2019

how-a-salaried-person-with-income-up-to-rs-7-75-lakh-can-now-pay-zero-tax

Rudrayani Shedjale (Assistant Accountant) (751 Points)
Replied 02 February 2019

is it applicable from 1st April 2020?

Nishant Tripathi (Student) (28 Points)
Replied 02 February 2019

yes, this is applicable for 2020 onwards

Rudrayani Shedjale (Assistant Accountant) (751 Points)
Replied 02 February 2019

So while computing income tax for the f.y.2019-20 we should consider the old provisions only?

Lalit Sangani (M.Com. Asst. Manager Account) (731 Points)
Replied 02 February 2019

It is applicable from 01/04/2019, budget is for F.Y. 2019-20 not for F.Y, 2020-201

Kk Nair (154 Points)
Replied 02 February 2019

Is this 5 Lakh limit now proposed not Basic exemption? Sec 87A speaks about tax rebate of 2500 for those whose income is less than 3.5 lakh. Sorry for interrupting/interference, just for knowledge only.