Union Budget 2019: Five new measures you need to know

Income tax slab rate expectation Big income tax changes for the salaried class likely in Budget 2019

Income tax slab rate expectation Big income tax changes for the salaried class likely in Budget 2019

Congress president Rahul Gandhi criticized the farmers' scheme introduced by Finance Minister Piyush Goyal in the Interim Budget 2019.

Assured income to farmers Under Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 per year for each farmer, in three installments, to be transferred directly to farmers' bank accounts, for farmers with less than 2 hectares landholding.

No tax will be deducted on interest earned on bank and post office deposits of up to Rs 40,000 annually, up from Rs 10,000 now. Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities.

Gratuity limit increased Gratuity limit hiked from Rs 10 lakh to 30 lakh for employees with service of at least five years from the next fiscal.

Kendall Coyne becomes first woman to compete in NHL All-Star skills competition
But this was a good step in that direction. "I would say to especially young girls, follow your dreams", Coyne Schofield said. Kendall Coyne Schofield owns one Olympic and five World Championship gold medals, but Friday night was one for posterity.

For senior citizens (aged 60 years or above but less than 80 years), income up to Rs 3 lakh comes free of tax. Also, they will be exempted from additional deductions of up to Rs 2 lakh on interest on homes loans, education loans, etc.

After today's interim budget announcement, a person earning upto Rs 10 lakh can pay zero income tax with smart financial management. So, only those whose total income does not exceed Rs 5 lakh will be eligible for the benefit. So, we will give a rebate of Rs 12,500 straight so that everyone who is filing a return up to Rs 5 lakh of net income will absolutely be a tax exempt case. "However, anyone with a net taxable income above Rs 5 lakh will not be able to avail this tax benefit and only get the standard deduction benefit".

This could benefit as many as 30 million taxpayers, the minister said, adding that those earning more will be taxed at the prevailing rates. ₹ 19,000 Crore has also been allocated towards rural road infrastructure for 2018-19, up 26 per cent over last year's ₹ 15,000 Crore allocation.

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