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Income upto ₹ 5 Lakh to get full tax rebate; higher standard deduction proposed

Budget - Dated:- 1-2-2019 - Ministry of Finance Relief of over ₹ 23,000 crore to estimated 3 Crore small and middle class tax-payers TDS threshhold on interests on small savings raised Boost to housing and real estate sector FM announces a slew .....

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ollections as well as tax base have shown significant increase, achieving a moderate taxation- high compliance regime. It is, therefore, just and fair that some benefits from the tax reforms must also be passed on to the middle class taxpayers As a r .....

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This will provide tax benefit of ₹ 18,500 crore to an estimated 3 crore middle class taxpayers comprising self employed, small business, small traders, salary earners, pensioners and senior citizens. STANDARD DEDUCTIONS RAISED For salaried per .....

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Further, the TDS threshold for deduction of tax on rent has also been proposed to be increased from ₹ 1,80,000 to ₹ 2,40,000 for providing relief to small taxpayers. MORE RELIEF TO RESIDENTIAL HOUSES It has been proposed to exempt the le .....

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t in one residential house to two residential houses for a taxpayer having capital gains up to ₹ 2 crore. This benefit can be availed once in a life time. For making more homes available under affordable housing, the benefits under Section 80-I .....

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