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of <h1>Finance Bill 2019 Sets Income Tax Rates, Adds 4% Health and Education Cess for FY 2019-2020</h1> The Finance (No. 2) Bill, 2019 outlines the income tax rates for the assessment year starting April 1, 2019, and specifies the rates for tax deductions at source and advance tax payments for the financial year 2019-2020. It includes provisions for different income brackets, surcharges for higher income levels, and specific rates for various entities like individuals, firms, and companies. The Bill also introduces a 'Health and Education Cess' at 4% on income tax and surcharge to support government commitments in education and health services. Special provisions apply to senior citizens and non-residents.
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