There is no change proposed in the income tax slabs and rates in the Intereim Budget 2019. The main benefit announced for individuals is that any individual having income up to Rs 5 lakhs will get full tax rebate Section 87A of the Income Tax Act and does not have to pay any income tax. It is to be noted that the individuals having taxable income more that Rs 5 lakhs are required to pay tax based on the tax slabs applicable to them. Further, standard deduction has been increased for salaried persons from Rs 40,000 currently to Rs 50,000 per year.
Income Tax Slab | Income Tax Rate |
---|---|
Income upto Rs. 2,50,000 | Nil |
Income between Rs. 2,50,001 - Rs. 500,000 | 5% of Income exceeding Rs. 2,50,000 |
Income between Rs. 500,001 - Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
Income Tax Slab | Income Tax Rate |
---|---|
Income upto Rs. 3,00,000 | Nil |
Income between Rs. 3,00,001 - Rs. 500,000 | 10% of Income exceeding Rs. 3,00,000 |
Income between Rs. 500,001 - Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
Income Tax Slab | Income Tax Rate |
---|---|
Income upto Rs. 5,00,000 | Nil |
Income between Rs. 500,001 - Rs. 10,00,000 | 20% of Income exceeding Rs. 5,00,000 |
Income above Rs. 10,00,000 | 30% of Income exceeding Rs. 10,00,000 |
Note: Important to note that the individuals having income of more than Rs 2.5 lakhs have to file their income tax returns no matter their income is taxable or not. Moreover, Non-resident Indians (NRI) are not allowed to avail the rebate of section 87A.
2023 September 25 is a bank holiday in Arunachal Pradesh due to Janmotsav Of Srimanta Sankardeva.
2023 September 27 is a bank holiday in Jammu And Kashmir due to Milad-i-Sherif/ Eid-i-Milad-ul-Nabi (Birthday Of Prophet Muhammed).
2023 September 27 is a bank holiday in Kerala due to Milad-i-Sherif (Birthday Of Prophet Muhammed).
2023 September 28 is a bank holiday in Delhi due to Eid-E-Milad/Eid-e-Meeladunnabi - (Prophet Mohammad's Birthday) (Bara Vafat).
2023 September 28 is a bank holiday in Jharkhand due to Eid-E-Milad/ Eid-e-Meeladunnabi - (Prophet Mohammad's Birthday) (Bara Vafat).
2023 September 28 is a bank holiday in Chhattisgarh due to Eid-E-Milad/Eid-e-Meeladunnabi - (Prophet Mohammad's Birthday) (Bara Vafat).
Bank Name | Interest(p.a.) |
---|---|
Esaf Small Finance Bank | 8.75% |
Suryoday Small Finance Bank | 8.50% |
Utkarsh Small Finance Bank | 8.50% |
Equitas Small Finance Bank | 8.50% |
North East Small Finance Bank | 8.50% |
Ujjivan Small Finance Bank | 8.30% |
Indusind Bank | 8.00% |
Rbl Bank | 8.00% |
Fincare Small Finance Bank Ltd | 8.00% |
The Nainital Bank | 7.90% |
Bank Name | Interest(p.a.) |
---|---|
Esaf Small Finance Bank | 8.75% |
Suryoday Small Finance Bank | 8.50% |
Utkarsh Small Finance Bank | 8.50% |
Equitas Small Finance Bank | 8.50% |
North East Small Finance Bank | 8.50% |
Ujjivan Small Finance Bank | 8.30% |
Indusind Bank | 8.00% |
Rbl Bank | 8.00% |
Fincare Small Finance Bank Ltd | 8.00% |
The Nainital Bank | 7.90% |