Question

No income tax for earnings up to_________rupees, as per the Interim Budget for 2019 presented by Union Finance Minister Piyush Goyal I Parliament on February 1, 2019 ?
A. Rs. 4 Lakh
B. Rs. 5 Lakh
C. Rs. 6 Lakh
D. None of the above

Answer 1

Correct Answer - B
Finance Minister Piyush Goyal presented an Interim Bodget for 2019 in Parliament on Fabruary 1, 2019. As per the budget, no income tax for earnings up to Rs 5 lakh. Individuals with gross income of up Rs 6.5 lakh need not pay any tax if they make investments in provident funds prescribed equities.