The budget interim has proposed to give a full rebate for those who earn up to Rs.5lakh a year. Now, 3crore people don’t have to pay tax if this proposal got approved. People with earning of 3.5lakh a year are eligible for a tax rebate of Rs.2,500 under 87A. This budget proposes to increase that tax rebate up to Rs.12,500.
Now here we are giving a table that how 2019 budget will help you to save your tax.
Income in between Rs 2.5lakh- Rs 5lakh
| Subject | Pre-Budget | Post-Budget |
| Salary | 3,60,000 | 3,60,000 |
| Standard Deduction | -40,000 | -50,000 |
| Taxable Salary | 3,20,000 | 3,10,000 |
| Tax on Above | 1,040 | 0 |
| Less : 87A Rebate | 1,040 | 0 |
| Finale Payable Tax (CESS includes) | 0 | 0 |
| Saved Tax | 1,040 |
Income in between Rs 5lakh- Rs 6lakh
| Subject | Pre-Budget | Post-Budget |
| Salary | 5,50,000 | 5,50,000 |
| Standard Deduction | -40,000 | -50,000 |
| Taxable Salary | 5,10,000 | 5,00,000 |
| Tax on Above | 15,080 | 0 |
| Saved Tax | 15,080 |
Income in between Rs 6lakh- Rs 10lakh
| Subject | Pre-Budget | Post-Budget |
| Salary | 8,50,000 | 8,50,000 |
| Standard Deduction | -40,000 | -50,000 |
| Taxable Salary | 8,10,000 | 8,00,000 |
| Tax on Above | 77,480 | 75,400 |
| Saved Tax | 2,080 |
Income in above Rs 10lakh
| Subject | Pre-Budget | Post-Budget |
| Salary | 1050000 | 10,50,000 |
| Standard Deduction | -40,000 | -50,000 |
| Taxable Salary | 1010000 | 10,00,000 |
| Tax on Above | 1,20,120 | 1,20,120 |
| Saved Tax | 3,120 |
