Budget

Income Tax Slabs for FY 2019-20 (AY 2020-21)

Income Tax Slabs for FY 2019-20 in Budget 2019

Your income from salary, business or other income like income from fixed/recurring deposits etc are taxed as per income tax slabs. Full Budget 2019 presented on July5, 2019 has made NO changes in the tax slab. The announcement that individuals with income up to Rs 5 Lakh would get full rebate is through Section 87A.  There …

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Section 80TTB: Senior Citizens can Save Tax on their Interest Income

Section 80TTB - Tax Exemption for Senior Citizens on Interest Income

Budget 2018 along with many changes to tax laws also introduced a new Section 80TTB. According to this Senior citizen can claim tax exemption up to Rs 50,000 on interest income from bank/ post office fixed deposit, recurring deposit or savings account. Also, if a senior citizen opts to take advantage of Section 80TTB, he …

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