Budget 2019 Update
2. Income Tax slabs will remain the same for FY 2019-20. 3. No tax on notional rent of second Self-occupied House under “Income from House Property” i.e. up to two self-occupied house properties to be considered for exemption. 4. Tax Rebate Limit under 87A increased from Rs. 3.5 lakhs to Rs. 5 lakhs for taxpayers. The maximum limit of the tax rebate increased to Rs.12,500 from the present limit of Rs. 2,500. 5. TDS limit under Section 194A hiked from Rs 10,000 to Rs 40,000 on Post Office Savings and Bank Deposits. 6. Standard Deduction for the salaried class increased from Rs 40,000 to Rs 50,000. 7. Section 54 exemption now available on the second house property, provided the...