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of <h1>Finance Bill 2019: Income Tax Rates for Individuals and Entities; Progressive Surcharges for Income Above Rs. 50 Lakh.</h1> The Finance Bill 2019 outlines income tax rates for individuals, Hindu undivided families, associations of persons, bodies of individuals, and artificial juridical persons. For individuals under 60, the tax rates are 5% for income between Rs. 2,50,001 and Rs. 5,00,000, 20% for Rs. 5,00,001 to Rs. 10,00,000, and 30% above Rs. 10,00,000. For residents aged 60-79, the nil rate applies up to Rs. 3,00,000, and for those 80 and above, up to Rs. 5,00,000. Surcharges apply progressively from 10% to 37% based on income exceeding Rs. 50 lakh, with limits on the total tax and surcharge payable.
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