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Good News for Tax payers, No need to pay tax up to Rs 5 Lakh, 10 Major Points of Budget

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Good News for Tax payers, No need to pay tax up to Rs 5 Lakh, 10 Major Points of Budget

Finance Minister Piyush Goyal has presented the new budget of 2019-20 in the Lok Sabha today and netizens are rejoiced by it.

Let’s take a look at 10 major things of this year’s budget:

1. Income tax rebate has been increased to an annual income of up to Rs 5 Lakh.

2. Taxpayer can save Tax Up to Rs 6.5 lakh as they can get 1.5 lakh rebate if they invest their money in insurance, ELSS, or EPF

3. The standard deduction has been made from Rs. 40000 to 50000.

4. In a huge relief, the bank will not charge you any interest on a loan of Rs. 40000.

5. Financially weak farmers will get Rs. 6000 help annually.

6. Gratuity limit is increased from Rs. 10 Lakh to 20 Lakh.

7. In case of an accident, EPFO Policy has been varied to Rs. 6 lakh.

8. For the very first time, the Defence Budget is increased to Rs. 3 Lakh Crore To “Enhance Border Security”.

9. The average rate of inflation has been brought down to 4.6 percent, the lowest for any central government since the beginning of economic amendments in 1991.

10. Buying a new house will benefit you in terms of tax paying.

Stay connected for a more brief budget information of 2019!

Published by Soniya Kaur on 01 Feb 2019

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