Income Tax Slab for 2019-20

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Income Tax
Slab for FY 2019 -20
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Nil tax on incomeupto Rs. 5 Lakhs.
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The exemption limit of Rs. 5 lakh combined with
deductions on savings available under Sector 80
will mean that people earning Rs 6.5 lakh may not
be required to pay any Income Tax.
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Standard Deduction of Rs. 50,000 has been allowed
for salaried taxpayers.
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TDS threshold on rental income raised to Rs. 2.4
Lakhs from Rs.1.8 Lakhs.
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TDS threshold on interest on bank and post office
deposits raised to Rs. 40,000 from Rs. 10,000.
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