Union Budget 2019: What happens to your taxes?
NEW DELHI: On July 5, Union To finance Minister Nirmala Sitharaman she presented her first maiden budget in which she kept the slabs of the income tax unchanged. However, she raised the income tax. surcharge For him very rich . For those with a taxable income of Rs 2-5 crore, the surcharge stands increased from 15% to 25%, bringing their effective tax rate to 39% as opposed to 35.9%. Those earning more than Rs 5 crore would have to pay a surcharge of 37%, which translates into an effective tax rate of 42.7%. Pick the case study nearest to your annual salary to determine the Budget impact.