Budget 2019
Finance Minister Piyush Goyal presented the Interim Budget for the 2019-20 fiscal in the Rajya Sabha. Big news for middle class tax payers, no tax upto 5.0 lakh. Now an Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in 80C which already have provision for 2.5 Lakh savings. An another benefit for middle man is Standard tax deduction for salaried persons which raised from 40,000 rupees to 50,000 rupees. Limit of Gratuity also increased from 10 lakh to 30 lakh rupees. TDS on fixed deposits and postal deposits will be exempted for interest earned upto Rs. 40,000 from Rs. 10,000 currently. Benefit under 80IBA of the I-T Act will be extended for one more year for affordable housing. Mega Pension Yojana, namely Pradhan Mantri Shram Yogi Mandhan, introduceef to provide assured monthly pension of 3000 rupees per month, with contribution of 100 rupees per month, for workers in unorganized sector after 60 years of ag...