Top 20 Updates Of Budget 2019:-
Finance Minister Nirmala Sitharaman presented the maiden budget of second Narendra Modi government in Lok Sabha on July 5, 2019
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‘Naari tu Narayaani’. This government believes that ‘with greater women participation, we can progress.’
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₹5 lakh minimum limit announced for taxpayers.
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PAN and Aadhaar to be interchangeable, you can file Income Tax Return by using Aadhaar number.
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Deduction on loans upto 31st March 2020 for buying affordable houses.
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‘Gandhi-pedia’ to be developed on the lines of encyclopedia to help promote Gandhian positive thoughts.
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Proposed to increase custom duty from 10 % to 12.5% on gold and other precious metals.
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No charges or merchant discount rates shall be imposed on customers or merchants which depicts RBI and banks will absorb these costs.
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GST to be simplified to a single monthly return.
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2% TDS on cash withdrawals exceeding ₹1 crore in a year from bank accounts.
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Deduction of 1.5 lakh rupees on interest paid on loans borrowed upto 31st of March’20 for purchase of house up to Rs 45 lakh.
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Pension benefits to 3 crore retail traders and shopkeepers.
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Loans of upto ₹1 crore to be given to MSMEs.
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Special additional duty and road and infrastructure cess on diesel and petrol to be increased by Re 2/litre.
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The Indian economy will grow to become a 3 Trillion Dollar economy this year itself.
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Government has already moved GST council to lower the GST rate on electric vehicles (EV) from 12% to 5%.
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Companies having an annual turnover of ₹400 crores, will now be under the bracket of 25% corporate tax rate.
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To further encourage women entrepreneurship, Women Self-help Groups (SHGs) Interest Subvention Programme to be expanded to all districts in India.
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We propose to start a television program on ‘DD National’, exclusively for startups. This programme will be designed and executed by startup’s themselves.
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‘Global Investors Meet’ to happen in India.
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India to be ‘open defecation free’ (ODF) by 2nd October’19.