Budget 2019: Piyush Goyal gives the middle class a new high

[Kool_SRG]

Proposals include full rebate for income up to Rs 5 lakh, hike in standard deduction to Rs 50,000 from Rs 40,000

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Direct tax proposals at a glance

Income up to Rs 5 lakh - No tax

Over Rs 5 lakh- up to Rs 6.5 lakh - No tax if investments made.

Standard deduction raised to Rs 50,000 from Rs 40,000 now.

TDS threshold on interest from bank deposits, postal savings raised to Rs 40,000 from Rs 10,000.

TDS threshold on rental income raised to Rs 2.4 lakh from Rs 1.8 lakh.

Capital gains from residential property sale will be eligible for exemption under Section 54 for 2 properties bought.

No income-tax on notional rent on second self-occupied home

 

Other big proposals

Income support scheme for farmers - Rs 6,000/year direct transfer cash to small farmers

Mega pension scheme for the unorganised sector - for assured monthly pension of Rs 3,000

Hike in Defence budget to over Rs 3 lakh crore

[karna11]

ivvanni, next election results varukee naa or whole this year aaa?

[AndhraneedSCS]

Whole year if BJP comes to power. if BJP don't come to power, it will be until next govt proposing budget 

[rrc_2015]

2 hours ago, Kool_SRG said:

Hike in Defence budget to over Rs 3 lakh crore

 

2 hours ago, Kool_SRG said:

Income up to Rs 5 lakh - No tax

🤗

[rrc_2015]

2 minutes ago, karna11 said:

ivvanni, next election results varukee naa or whole this year aaa?

Lol .,,,, Election promises no interm budget lo include chesinattu unnadu.

[Kool_SRG]

40 minutes ago, karna11 said:

ivvanni, next election results varukee naa or whole this year aaa?

This is interim budget and will come in to effect from next FY and a kind of voter attracting measure... If a different govt comes may change if any done in full fledged budget when presented.