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Saturday, July 06, 2019

Budget 2019-20 Income Tax Slab Full details


Budget 2019-20  Income Tax Slab Full details

Income Slab
Tax Rate
Cess
Surcharge
Effective tax rate
Up to Rs. 2.5 lakh
No Tax – Tax Exempt
Rs. 2.5 lakh to Rs. 5 lakh
5%
4%
0%
5.20%
Rs. 5 lakh to Rs.10 lakh
20%
4%
0%
20.8%
Rs.10 lakh to Rs.50 lakh
30%
4%
0%
31.2%
Rs.50 lakh to Rs. 1 Crore
30%
4%
10%
34.32%
Rs. 1 Crore  to Rs. 2 Crore
30%
4%
15%
35.88%
Rs. 2 Crore  to Rs. 5 Crore
30%
4%
25%
39.00%
Rs. 5 Crore and Above
30%
4%
37%
42.74%


Budget 2019-20  Income Tax Slab..!

Income Slab
Tax Rate
Health & Edu.Cess@4%
Surcharge
Effective tax rate
Up to Rs. 2.5 lakh
No Tax – Tax Exempt
Rs. 2.5 lakh to Rs. 5 lakh
5%
0.20%
0%
5.20%
Rs. 5 lakh to Rs.10 lakh
20%
0.80%
0%
20.8%
Rs.10 lakh to Rs.50 lakh
30%
1.20%
0%
31.2%
Rs.50 lakh to Rs. 1 Crore
30%
1.32%
3%
34.32%
Rs. 1 Crore  to Rs. 2 Crore
30%
1.38%
4.5%
35.88%
Rs. 2 Crore  to Rs. 5 Crore
30%
1.50%
7.5%
39.00%
Rs. 5 Crore and Above
30%
1.64%
11.1%
42.74%

Budget 2019-20  Income Tax Slab
Income Slab
Effective tax rate
Up to Rs. 2.5 lakh
No Tax
Rs. 2.5 lakh to Rs. 5 lakh
5.20%
Rs. 5 lakh to Rs.10 lakh
20.8%
Rs.10 lakh to Rs.50 lakh
31.2%
Rs.50 lakh to Rs. 1 Crore
34.32%
Rs. 1 Crore  to Rs. 2 Crore
35.88%
Rs. 2 Crore  to Rs. 5 Crore
39.00%
Rs. 5 Crore and Above
42.74%

·      Individuals with income up to Rs.5 lakh pay zero tax due to rebate (Rs. 12,500).  For Individuals below 60 years of age
·      Note: For Individuals age between 60 years and 80 years (Senior Citizens) No income tax up to Rs. 3 lakh 
·      Note:  For Individuals age above 80 years (Very Senior Citizens) No income tax up to Rs. 5  lakh

Budget 2019-20 Income Tax Slab Full details Reviewed by Investment Guru on July 06, 2019 Rating: 5 Budget 2019-20  Income Tax Slab Full details Income Slab Tax Rate Cess Surcharge Effectiv...

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