Union Budget India 2019-20/ Finance Bill, 2019

India’s Union Budget (2019-20)/ Finance Bill, 2019 has been presented by MoF Sh. Piyush Goyal in the Parliament, today (i.e. on 01/02/2019):

Budget 2019 Speech along with Tax proposals by FM Sh. Piyush Goyal

Finance Bill, 2019 (Proposals on Direct/ Indirect Taxes)

Tax proposals made by the Finance Minister Sh. Piyush Goyal in the Interim Budget 2019 have mainly focussed to provide much awaited relief to middle class. Public, Media and Professionals are all appreciating the Budget 2019 as a progressive budget for small taxpayers (middle class) since the proposed measures would provide immediate relief to small taxpayers and benefit the salaried taxpayers with enhanced take home pay.

Lower/ Middle Class, Pensioners, Senior Citizens those who are mainly dependent on rental/ pension/ interest income, have benefited the most with enhanced tax free income, enhanced threshold for TDS on Rent/ Interest.

Direct Tax Proposals made in the Budget 2019 (FY 2019-20/ AY 2020-21) mainly includes i) full tax rebate for individual taxpayers having total income up to Rs. 5 lacs, ii) enhanced standard deduction (from Rs.40,000 to Rs. 50,000), iii) allowing self-occupation of two residential house properties without tax liability for notional rental income of second property, iv) increase in threshold for TDS on interest from bank/post office deposits (from Rs.10,000 to Rs.40,000), v) increase in threshold for TDS on rent (from Rs.1,80,000 to Rs.2,40,000), vi) allowing investment in two residential houses for claiming capital gains exemption under section 54, etc.

All the documents related to Budget 2019 speech/ proposals have been uploaded by GoI at https://www.indiabudget.gov.in/:

i) Key to Budget Documents

ii) Budget Speech

iii) Budget at a Glance

iv) Annual Financial Statement

v) Finance Bill

vi) Receipt Budget

vii) Expenditure Budget

viii) The Macro Economic Framework Statement

ix) Medium Term Fiscal Policy/ Fiscal Policy Strategy Statement

x) Implementation of Budget Announcements 2018-2019

Related Posts:

Union Budget India 2020-21/ Finance Bill, 2020

Finance Act, 2019 notified by Govt. post President’s Ascent (dt. 21 Feb. 2019)

Full Tax Rebate for Individuals having Income upto Rs. 5 lac (Budget 2019)

Standard Deduction increased from Rs. 40,000 to Rs. 50,000 (Budget 2019)

Section 54 Tax Benefit proposed to be Extended to Purchase/ Construction of 2 Houses

Second Self-occupied House Property proposed to be Exempted from Deemed Rental Income

TDS on Rent Payment u/s 194I: Limit Increased from Rs. 1,80,000 to 2,40,000 (Budget 2019)

TDS on Interest u/s 194A: Limit Increased from Rs. 10,000 to 40,000 (Budget 2019)


  3. Parashuram

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