What will be your taxable income in 2019-20

NEW DELHI: Finance minister Arun Jaitley made no changes in personal income tax slabs this year’s budget. He did, however, offer some relief to the salaried by announcing a standard deduction of Rs 40,000 in lieu of two present day exemptions for medical expenses and conveyance. The minister also raised education cess from 3% to 4% for all individual taxpayers.

Here’s a look at how these changes will impact your tax liability going forward in 2019-20


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