The Union Minister for Finance, Corporate Affairs, Railways and Coal, Shri Piyush Goyal said that the 7th Pay Commission recommendations were implemented and New Pension Scheme (NPS) has been liberalized. The Government’s contribution in NPS had been increased 10% to 14%. The limit of gratuity payment has been increased from Rs. 10 lakh to Rs. 20 lakh. The limit of eligibility c … [Read more...]
Budget 2019 : Income upto Rs 5 Lakh to get full tax rebate
Income upto Rs 5 Lakh to get full tax rebate; higher standard deduction proposed Relief of over Rs 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 of tax reliefs for middle class and small tax payers Individual taxpayers having taxable annual … [Read more...]
Budget 2019 Highlights – Complete Summary
The key highlights of the Interim Budget 2019-20 presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal in Parliament today are as follows: New Announcements Farmers 12 crore small and marginal farmers to be provided with assured yearly income of Rs. 6000 per annum under PM-KISAN Outlay of Rs. 75,000 crore for FY … [Read more...]
Rs. 40,000 Standard Tax Deduction On Transport, Medical Expenses
Relief to salaried taxpayers: standard deduction of Rs 40,000 allowed in lieu of present exemptions 2.5 Crores salaried employees and pensioners to benefit Differently-Abled will continue to get transport allowance at enhanced rate In order to provide relief to salaried taxpayer, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, proposed to allow a … [Read more...]
Relief to Senior Citizens: Exemption of Interest Income on deposits increased to Rs 50,000
Relief to Senior Citizens: Exemption of Interest Income on deposits increased to Rs 50,000 Pradhan Mantri Vaya Vandana Yojana extended up to March 2020 Existed limit on investment under PMVVY enhanced to Rs 15 lakhs With the objective of providing a dignified life to senior citizens, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, announced … [Read more...]