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.
2024 August 03 is a bank holiday in Tripura due to Ker Puja.
2024 August 08 is a bank holiday in Sikkim due to Tendong Lho Rum Faat.
2024 August 13 is a bank holiday in Manipur due to Patriot's Day.
2024 August 15 is a bank holiday in Jharkhand due to Independence Day/Parsi New Year (Shahenshahi).
2024 August 19 is a bank holiday in Himachal Pradesh due to Raksha Bandhan/Jhulana Purnima/Birthday Of Bir Bikram Kishore Manikya Bahadur.
2024 August 20 is a bank holiday in Kerala due to Sree Narayana Guru Jayanthi.
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% |
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% |