2020 Budget’s impact on total income and tax liability of individual

2020 Budget’s impact on total income and tax liability of individual  Budget 2020 has proposed a new tax regime by slashing income tax rates and changing the income tax slabs.   As announced in the new tax regime, 70 tax exemptions will be removed but the changed and new slab will be- Income between Rs 2.5 Read more about 2020 Budget’s impact on total income and tax liability of individual[…]

Income tax slabs for FY 2018-2019 ( AY 2019-2020) for individual

Income tax slabs for resident individual below 60 years of age Taxable Income slabs Income tax rates Cess Up to INR 2,50,000 NIL INR 2,50,001 to 5,00,000 5% of  (INR 5,00,000 – INR 2,50,000) + 4% on tax INR 5,00,001 to 10,00,000 INR 12500 +20% of ( INR 10,00,000-INR 5,00,000) +4% on tax INR 10,00,001 Read more about Income tax slabs for FY 2018-2019 ( AY 2019-2020) for individual[…]