Budget 2019: Here is a look at income tax rates for this assessment year
Updated : June 27, 2019 12:33 PM IST
As per the existing rates an individual who is below the age of 60 is exempted from tax payment if his/her total income for the last financial year was below Rs 2.5 lakh.
If the income is between Rs 2.5 lakh and Rs 5 lakh, then the tax rate would be five percent.
For income between five to ten lakhs, the tax rate would be 20 percent while the rate would be 30 percent for income above ten lakhs.