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| Name | Income Tax Ready Reckoner AY 2019-20 |
| Pages | 43 |
| Size | 0.12 MB |
| Language | English |
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Income Tax Ready Reckoner AY 2019-20
We have prepared the IT & GST Ready Reckoner, in which all the basic concepts of Income Tax and GST will be covered. IT & GST Ready Reckoner is created to make the work easy for professionals. Following are the topics covered in the IT & GST Ready Reckoner.
Senior citizens will not have to pay any tax for income up to ₹3 lakh and for super senior citizens (above 80 years), the exemption is up to ₹5 lakh. For salaried taxpayers, standard deduction has been raised from the current ₹40,000 to ₹50,000. This will provide an additional tax benefit of ₹4,700 crore to more than 3 crore salary earners and pensioners. A health and education cess of 4% will be added to the total tax outgo besides a surcharge if your income crosses ₹50 lakh.
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FAQs for Income Tax Ready Reckoner AY 2019-20
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