Friday, February 1, 2019

Budget 2019: No tax for individual incomes up to Rs 5 lakh

Are you looking for the 2019 Budget in India detail? If yes, then you may find them here. There is a good news for earners. Yes, earner in India now would get a lot of exemption this year and on with regards to income tax concern. 

The interim Finance Minister Piyush Goyal let relief to middle class as well beside poor and farmers. Please find the Budget 2019 and Tax exemption detail below.

Highlight of the Budget 2019:

Defence Budget increased to 3 lakh crore.

Hike in Military pay announced.

Income tax exemption up to Rs 5 lakh

There will be reasonable tax slab after 5-10 lakhs and above.

The Farmer will get relief from the loan as well.

Budget 2019 Benefits:

Historic Farmer Income Support Scheme: PM Kisan Samman Nidhi Yojana Proposed.

The farmers who have less than 2 hectares land holdings will get the following benefit.

Rs 6000 per year for each farmer to be transfered directly to farmers' bank account in three installments.

Twelve crore marginal farmers to benefit.

Outlay of Rs 75000 cr for FY 2019-20. There are some more benefits for them.

With regards to middle class, the budget would benefit as follow.

Individual tax payers having income up to 5 L will have complete tax rebate!

Additional 1.5 L benefit if you invest in approved financial instruments / retirals.

3 crore people including salaried and retired to benefit.

We will publish more about the Budget 2019 in India detail.