the Finance Budget 2019, some Important Income Tax Section and Income Tax
Rebate has changed. The Major modification including the Income Tax Slab Rate
for the F.Y. 2019-20 is given below.
Income Tax Slab for the Financial Year 2019-20 is Same as Previous F.Y.2018-19
Raised the Income Tax Rebate U/s 87A up to Rs. 12,500/- who’s Taxable Income
less than 5 Lakh.
Raised the Income Tax Standard Deduction U/s16(ia) from Rs. 40,000/- to
Raised the Tax Exemption from the Bank/Post Office Savings Interest from
10,000/- to 50,000/-
Introduce New Section 80EEA for New Home Loan Interest Rs.1.5 Lakh.
Non-Govt Employees for the Financial Year2019-2020 and Assessment Year 20120-2021 With New Format of Form 16 Part B.
per new Finance Budget 2019
Calculation U/s 10(13A)