While the Interim Budget 2019 has not increased the basic exemption limit from Rs.2.50 lacs, which has remained unchanged for the last five financial years, it has increased tax rebate under Section 87A from Rs.2,500 to Rs.12,500 and would cover taxpayers having taxable income up to Rs. 500,000. Basically the finance minister has given a full tax rebate for individuals earning an annual income of Rs. 5 lakh and now they won’t be required to pay income tax. Suresh Surana, Founder of RSM Astute Consulting said,