India's Union Budget for 2019-20 was presented to Parliament on 5 July 2019. Some of the main aspects of the Budget include:

• The standard individual income tax brackets/rates are unchanged, although there is a proposed introduction of two higher surcharge rates in addition to the current 10% and 15% rates, resulting in the following surcharge brackets:
  • over INR 5 million up to INR 10 million -…