Budget 2019 Highlights
1. Full rebate on annual income up to 500000 (5 lakh) for
individual taxpayers.
2. Standard Deduction for
Salaried employees has been increased by Rs. 10000 (from 40000 to 50000).
3. TDS on Interest Income
u/s 194A, Celling Limit of which has been increased from Rs. 10000 to Rs. 40000
4. TDS on Income from
Rent u/s 194A, Celling Limit of which has been increased from Rs. 180000 to Rs.
240000
5. Limit of Gratuity has
been increased from Rs. 10,00,000 to 30,00,000
6. Tax assessment &
Verifications for IT Return will be done electronically with almost 2 years.
7. IT Returns will be
processed within just 24 hours.
8. Benefit under rollover
capital gains tax to be increased from investment io one residential house to
two residential house for tax payer having gains upto Rs. 2,00,000.
9. Collection against GST
has been crossed rupees 1 lakh crore.
10. GST rate has been
reduced for home byers, mostly, daily use for poor and middle class are now in
the 0 % to 5& tax brackets.
11. Custom duty has been
eliminated for 36 capital goods.
12. Data accessing and
voice call charge in India is now possible the lowest in the world, mobile and
its parts manufacturing company has been increased rigorously.
13. Annual Business
turnover up to 5 crore will be eligible
to file quarterly GST return.
14. Benefit u/s 80(i)BA
has been increase for one more year till FY 2019-20120
15. Assured monthly
pension of Rs. 3000 by contributing Rs. 100 per month to Mega Pension Yojana,
namely Pradhan Mantri Shram Yogi Mandhan for unrecognized section after
attaining the age of 60 year
16. 2% interest subsidy
to farmers having animal husbandry and fisheries effected by natural calamities
and another 3% for timely payment.
17. Bonus will be
applicable for all workers earning monthly remuneration of Rs. 21000
18. Under Ujjawala
Scheme, government delivered 6 crore free LPG connection.
19. Dream for digital
village will achieve 1 lakh within next 5 years.
20. Maternity leave
increased to 26 week
21. For Defence Rs. 3
lakhs crore has been Funded.
22. Single window
clearance for approval of film making will be available.
23. Rs. 750 crores
allocated to Rastriya Gokul Mission.
24. Allocated 1.7 lakh
crores towards ensure food for all.
