Section 50: The first 50,000 rupees of the
This section is inserted by Finance Act 2019, section 26.
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
50. The first 50,000 rupees of the
amount receivable by an individual
in an income year from a REIT.
(ad) in the Third Schedule –
(i) in Part I –
(A) by repealing the table and replacing it by the
following table –
Individual (Rs)
Category A 310,000
Category B 420,000
Category C 500,000
Category D 550,000
Category E 600,000
(B) in paragraph 1, by repealing paragraphs (f), (g),
(h) and (i);
(C) in paragraph 2, by deleting the words “Category
B, C, D, E or G” and replacing them by the words
“Category B, C, D or E”;
342 Acts 2019
(ii) in Part II, by repealing the table and replacing it by the
following table –
COLUMN 1 COLUMN 2
Category claimed as Premium
Income Exemption allowable
Threshold (Rs)
Category A
15,000
(no dependent)
Category B 15,000 for self +
(1 dependent)
15,000 for dependent
Category C 15,000 for self +
(2 dependents)
15,000 for first dependent +
10,000 for second dependent
Category D 15,000 for self +
(3 dependents)
15,000 for first dependent +
10,000 for second dependent +
10,000 for third dependent
Category E 15,000 for self +
(4 dependents) 15,000 for first dependent +
10,000 for second dependent +
10,000 for third dependent +
10,000 for fourth dependent
(ae) in the Tenth Schedule, in Part A, in Note (b), by deleting
the words “National CSR” and replacing them by the words
“National Social Inclusion”;
(af) by adding the Thirteenth Schedule set out in the Fifth Schedule
to this Act.
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