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2. Individual residents with income over Rs 5 lakh but less than Rs 10 lakh per annum
3. Individual residents with income over Rs 10 lakh but less than Rs 50 lakh per annum
The main take away for salaried individuals from the Budget 2019 was the reduced income tax burden. Here
is a clear clarification on how the tax on your income for the financial year 2019 -20 will be computed.