Financial year 2019-20 has over and Tax calculation for filing of ITR has begun.
Auto tax calculator version 14.1 for FY
2019-20 is available to help you calculation
according to provision of Finance bill 2019.
Tax rates are not changed and remain same as last FY.
There are only 2 major changes which
will impact the tax liability of a person.
1. Standard deduction to all
salaried people ( including Pensioners) has risen to Rs. 50,000/- from Rs
40,000/-
2. A rebate u/s 87A up to 12500/-has risen to tax payers, who have
their total taxable Income (after Exemption and all Deduction) up to Rs.
5,00,000/-.
If total Income Increases even by Rs 10/- One will not get the
rebate and will be taxed on total Income.
Please give me your feedback about the contents you would like to add or
delete.
Download New Auto Tax Calculator for FY 2019-20
