plzz provide a Clear cut info on how will the Slab Structure look after the Proposed Budget read out yesterday!
Is ₹500000 made the Basic Exemption Limit or Provided as a Rebate under Section 87A?
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Slabs After the Interim Budgets
Replies (7)
Provided as a Rebate under Section 87A.
is it applicable from 1st April 2020?
yes, this is applicable for 2020 onwards
So while computing income tax for the f.y.2019-20 we should consider the old provisions only?
It is applicable from 01/04/2019, budget is for F.Y. 2019-20 not for F.Y, 2020-201
Is this 5 Lakh limit now proposed not Basic exemption? Sec 87A speaks about tax rebate of 2500 for those whose income is less than 3.5 lakh. Sorry for interrupting/interference, just for knowledge only.
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