*#budget2019*
*Tax*
1. Within 2 years, Tax assessment will be done electronically
2. IT returns processing in just 24 hours
3. Minimum 14% revenue of GST to states by Central Govt.
4. Custom duty has abolished from 36 Capital Goods
5. Recommendations to GST council for reducing GST rates for home buyers
6. *Full Tax rebate upto 5 lakh annual income after all deductions.*
7. Standard deduction has increase from 40000 to 50000
8. Exempt on tax on second self-occupied house
9. Ceiling Limit of TDS u/s 194A has increased from 10000 to 40000
10. Ceiling Limit of TDS u/s 194I has increased from 180000 to 240000
11. Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses.
12. Benefit u/s 80IB has increased to one more year i.e. 2020
13. Benefit has given to unsold inventory has increased to one year to two years.
*Other Areas*
14. State share has increased to 42%
15. PCA restriction has abolished from 3 major banks
16. 2 lakhs seats will increase for the reservation of 10%
17. 60000 crores for manrega
18. 1.7 Lakh crore to ensure food for all
19. 22nd AIIMS has to be opened in Haryana
20. Approval has to be given to PM Kisan Yojana
21. Rs. 6000 per annum has to be given to every farmer having upto 2 hectare land. Applicable from Sept 2018. Amount will be transferred in 3 installments
22. National kamdhenu ayog for cows. Rs. 750 crores for National Gokul Mission
23. 2% interest subvention for farmers pursuing animal husbandry and also create separate department for fisheries.
24. 2% interest subvention for farmers affected by natural calamities and additional 3% interest subvention for timely payment.
25. Tax free Gratuity limit increase to 20 Lakhs from 10 Lakhs
26. Bonus will be applicable for workers earning 21000 monthly
27. The scheme, called Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs. 3,000 with contribution of Rs. 100 per month for workers in unorganized sector after 60 years of age.
28. Our government delivered 6 crores free LPG connections under Ujjawala scheme
29. 2% interest relief for MSME GST registered person
30. 26 weeks of Maternity Leaves to empower the women
31. More than 3 Lakhs crores for defence
32. One lakh digital villages in next 5 years
33. Single window for approval of India film maker.

1 =: 6000/- to every small farmer holding land upto 2 acre in 3 installment: PM kisan Yojana

2 = : Increase gratuity from 10 lakh to 20 lakh.

3 = : New pension scheme of rs.3000/-per month for employee upto salary of 15000 per month

4 = : First time - Allocated more than 3 lakh crore to Defence

5 = : Single window clearance for new movie making.

6 = : Income tax refund within 24 hours.


1. Full rebate upto annual income of INR 500,000 for individuals (gross total income upto 650,000 including 80C) - so no tax upto that.

2. Standard Deduction increased from 40,000 to 50,000

3. Notional Rent on second self-occupied house done away with

4. TDS threshold on interest raised from 10,000 to 40,000

5. TDS threshold on rent raised from 180,000 to 240,000

6. Roll over of capital gains for section 54 to be increased from 1 residential house to 2 residential houses (for capital gains upto 2 Crore)

7. Affordable Housing - Deduction under 80IB(8) - extended by one more year

8. Extend exemption (notional income) on unsold inventory - 1 year to 2 years
[2/1, 13:04] Amit SHAH: 11 = Oceans and coastlines is the sixth dimension of our vision for 2030:

12 = Our seventh dimension is the aim to become launchpad of the world, placing an Indian astronaut in space by 2022.

13 = Self-sufficiency in food and improving agricultural productivity with emphasis on organic food forms the eighth dimension of our vision.

14 = We also aim to create a healthy India, with distress-free and comprehensive wellness system for all:

15 = Finally, the tenth dimension is Minimum Government Maximum Governance - a proactive, responsible and friendly bureaucracy.

16 = Propose to the following tax reforms: Individual taxpayers with annual income of up to Rs 5 lakh will get full tax rebate.