Question

write a report on 2019 budget ​

Answer 1

Answer:

• Individual taxpayers with annual income up to 5 lakh rupees to get full tax rebate.
• * Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities.
• * Tax slabs for those with income over Rs 5 lakh remain unchanged
• * Standard tax deduction for salaried persons raised from 40,000 rupees to 50,000 rupees.
• "Around 3 crore middle-class taxpayers will get tax exemption due to this measure," the finance minister said.
• * Gratuity limit increased from 10 lakh to 30 lakh rupees.
• * TDS on interest income from deposit in banks and post-offices up to Rs 40,000 against Rs 10,000 earlier.
• *
• * Benefit of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to 2 crore rupees; can be exercised once in a lifetime.
• * Benefits under Sec 80(i)BA being extended for one more year, for all housing projects approved till end of 2019-2020.
• * "We are poised to become a 5 trillion dollar economy in the next five years, we aspire to become a 10 trillion dollar economy in the next eight years.

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