Income tax slabs for Individuals for FY 2019-20 (AY 2020-21)

The Interim Finance Minister Shri Piyush Goyal Presented the interim budget on February 01, 2019 in Lok Sabha on which he told about the various amendments in Income Tax Act’1961 through Finance Bill 2019.

The Main relief to individual taxpayers is Rebate u/s 87A of Income Tax Act which increased the limit of rebate from Rs. 2,500 to Rs. 12,500 w.e.f. F.Y. 2019-20 for individual on total income upto Rs. 5 Lakh Per Annum.

A) For your information below are the tax slabs on Income tax for Financial Year 2019-20 (Assessment Year 2020-21):

I. In the case of every individual other than the individual referred to in points (II) and (III) of this photo

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Thanks tax guru