This being election year, interim Budget was presented by Mr. Piyush Goyal on February 1, 2019. Contrary to expectations, very few announcements were made and the best part of the interim Budget is that no negative proposal was made which could impact the common man adversely.
All proposals made are positive only and these are explained below.
1. Relief for Individuals having total taxable income up to Rs.5 lakhs
Please note that there is no change proposed in the income tax slabs. Minimum exemption limit continues to remain at Rs.2.5 lakhs. Calculation of income tax liability will be exactly the same as in the previous year i.e. 2018-19. The only difference is that all individuals whose annual taxable income is up to Rs.5 lakhs will claim 100% tax rebate. In other words, their tax liability will be Nil or Zero. There is no relief for taxpayers whose net taxable income exceeds Rs.5 lakhs.
This marginal relief will be available to over 4 crore individual taxpayers whose income is below Rs.5 lakhs.
Esta historia es de la edición February 2019 de Investors India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 2019 de Investors India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
ASK THE EXPERT
Ques. One of my friends told me that your company provides detailed Retirement plans. I want to know what is the procedure to get my Retirement plan. I will be retiring in March 2025. R.P Gupta, Noida
How to Naturally Reverse Fatty Liver Disease
The liver, located on the upper-right side of the abdomen, is the body’s largest internal organ and plays a critical role in detoxifying the blood and processing nutrients.
Banking sector which has underperformed in the last two years, now offers a favorable risk-reward profile
Do you think the market is overpriced? Is yes, should investors refrain from investing in index schemes at the current valuation?
India will continue to enjoy benefits of a close US relationship and trade will continue to grow
Q1. The US elections are said to be one of the closest till date, what impact will the election of a Republican / Democratic party have on the US economy and how is that going to affect India in the short as well as the long term?
Understanding Momentum Funds
Momentum funds are a type of investment fund that focuses on companies experiencing positive momentum in factors such as earnings, revenue, and stock price movement.
Risks and opportunities associated with Small Caps
Small-caps are a stock-picker’s paradise.
How to navigate your portfolio through bull market a
Indian equities have been in a bull run for the past four years.
Choosing mutual fund schemes depending on your age to achieve life goals
The choice of mutual fund (MF) scheme might be influenced by one’s risk profile or age.
Thematic Fund Or Sectoral Fund, Which Fund Suits You?
A thematic fund is a type of mutual fund that focuses on investing in companies based on specific themes or trends.
Be Kind To Your Kidneys
The kidney is a vital organ in our body which is four inches long and two and a half inches in width.
