Budget 2019 by interim FM Piyush Goyal Ji has offered some major reforms under the current Modi government. Some of the highlighted topics which might be considered under the budget decision are – the benefits to the rural sector, relief to the farmers and some sops for the middle-class population.
All Updates of Union Budget 2019 on GST, TDS & Income Tax
- HRA discount now marked up to INR 2.40 lakh
- Full tax rebate up to 5 lakh annual income while individual having a gross income of INR 6.5 lakh not to pay any tax in case there is the investment in the provident funds and prescribed equities as described by FM Piyush Goyal
- Rental income raised from 1.8 lakh to 2.4 lakh rupees under TDS threshold
- Interest on bank and post office deposits raised from 10,000 to 40,000 rupees under TDS threshold
- Benefits being extended for one more year under Sec 80(i)BA, for complete housing projects approved till the end of 2019-2020:
- 40,000 rupees to 50,000 rupees raised in Standard tax deduction for salaried persons
