The most talked about point even before the budget was announced, is that for the first time a Chartered Accountant Sri Goyal was presenting the finance budget. An optimist Indian would prefer to talk about the pluses in the given budget and that’s what this article will cover:-.
The key take away of the budgets are:-
1)Income Tax Slab being enhanced to 5 lakhs, is relief for income tax payers. Thus, those who make tax saving investments, income earners of Rs 6.5 lakh will have taxable amount as nil. Standard deduction of Rs 50,000 is a hike of 10,000 from the previous deduction of Rs40,000.
2)Capital gain once in a life time benefit will now be given to people with quantity of house being 2 u/s 54 with specific threshold. Thus, no notional rent on second occupied house is very progressive as now with changing times, situations, such changes are very relevant. Sec 80(i)BA has been extended for one more year.
3)Rent TDS slab enhanced to 2.4 lakh from existing 1.8 lakh slab. Rs 40,000 interests the new threshold which will not attract TDS.
4) Rs 6000 per year direct cash transfer to farmers will give them relief. Reschedule of loan which on one side will give relief to farmers but also not just an appeasement policy of total waiver, the later always burdens the economy. Rather re scheduling strategy Incentive for timely repayment of loan encourages repayment habit and thus positively contributing to economy.
5)Labourers pension of Rs 3000 is a breath of fresh air for the unorganised section.
6)Development of north east and building of railway tracks, makes ease in travelling and growth of infrastructure inclusively.
7)The scrutiny of cases anonymously done online, deserves a thumbs up. It will lead to no bias, transparent system of assessment from anywhere. Even processing returns and refunds within 24 hours, will reflect the efficiency of the system.
9)Defence allocation is always required and that has been stated over RS 3cr, is also showing the government’s uncompromising mood as far as national security is concerned.
10)The budget is progressive with a vision to build a Digital India reaching all , infrastructurally developed while promoting environmental causes as in Clean and Green India,Clear Rivers.
The heart will always want more and there is no end to wants in regard to GST and health care of senior citizens involving all sectors, but the stated budget is a well balanced one. Surely deserves a big thumps up.
Glimpses of Budget 2019
The most talked about point even before the budget was announced, is that for the first time a Chartered Accountant Sri Goyal was presenting the finance budget. An optimist Indian would prefer to talk about the pluses in the given budget and that’s what this article will cover:-.
The key take away of the budgets are:-
1)Income Tax Slab being enhanced to 5 lakhs, is relief for income tax payers. Thus, those who make tax saving investments, income earners of Rs 6.5 lakh will get taxable amount will be nil. Standard deduction of Rs 50,000 is a hike of 10,000 from the previous deduction of Rs40,000.
2)Capital gain once in a life time benefit will now be given to people with quantity of house being 2 u/s 54 with specific threshold. Thus, no notional rent on second occupied house is very progressive as now with changing times, situations, such changes are very relevant. Sec 80(i)BA has been extended for one more year.
3)Rent TDS slab enhanced to 2.4 lakh from existing 1.8 lakh slab. Rs 40,000 interests the new threshold which will not attract TDS.
4) Rs 6000 per year direct cash transfer to farmers will give them relief. Reschedule of loan which on one side will give relief to farmers but also not just an appeasement policy of total waiver, the later always burdens the economy. Rather re scheduling strategy Incentive for timely repayment of loan encourages repayment habit and thus positively contributing to economy.
5)Labourers pension of Rs 3000 is a breath of fresh air for the unorganised section.
6)Development of north east and building of railway tracks, makes ease in travelling and growth of infrastructure inclusively.
7)The scrutiny of cases anonymously done online, deserves a thumbs up. It will lead to no bias, transparent system of assessment from anywhere. Even processing returns and refunds within 24 hours, will reflect the efficiency of the system.
9)Defence allocation is always required and that has been stated over RS 3cr, is also showing the government’s uncompromising mood as far as national security is concerned.
10)The budget is progressive with a vision to build a Digital India reaching all , infrastructurally developed while promoting environmental causes as in Clean and Green India,Clear Rivers.
The heart will always want more and there is no end to wants in regard to GST and health care of senior citizens involving all sectors, but the stated budget is a well balanced one. Surely deserves a big thumps up.
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