21 Key Points of Union Budget 2019

1. No tax on individuals having income upto Rs.5 lac.

2. Standard deduction for salaried employees raised from Rs. 40,000 to Rs. 50,000.

3. Threshold limit for TDS on rent increased from Rs.180000 to Rs.240000.

4. No tax-ability on deemed basis under the head "house property" even if an assesse has two self-occupied houses.

5. Threshold limit for TDS on interest income increased from Rs.10000 to Rs.40000.

6. Section 54 benefit will be available in respect of 2 houses.

7. Direct tax collection has increased from 6.38 lac crore to 12 lac crores.

8. 99.54% income-tax returns accepted as having been filed without any scrutiny.

9. Farmers owning land up to 2 hectares to get Rs.6000 per annum under PM Kissan Yojna and 75000 crore per year to be spent on PM Kisan Yojna.

10. 60,000 crores are being allocated for MGNREGA in Budget Expenditure 2019-20. Additional amount would be provided if required.

11. Persons working in unorganized sector and having income upto Rs.15000 per month will get pension of Rs.3,000 per month under Pradhan Mantri Shram Yogi Maandhan Yojana.

12. GST registered SME will get 2% rebate on interest on loan upto 1 Cr.

13. Farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention on timely repayment of loan.

14. Anti-black money measures have brought Rs.1.30 lac crore under tax net.

15. More than 7,000 beneficiaries of PM Mudra Yojana are women. 15.56 crore loans of 7.23 lakh crore disbursed under MUDRA Yojana.

16. A sum of Rs 2.6 lakh crore has been directed towards recapitalization of Public Sector Banks (PSBs).

17. Over Rs 35,000 crore has been allocated under the ‘One Rank One Pension’ scheme for Defence personnel.

18. Under National Disaster Relief Fund (NDRF), farmers affected by natural calamities will get 2% interest subvention. A prompt repayment incentive of 3% will be given for the entire loan reschedule period.

19. Allocation for Rashtriya Gokul Mission increased to Rs 750 crore. Rashtriya Kamdhenu Aayog has been established to genetically upgrade cow resources.

20.  Benefits under Section 80-IBA to be extended for one more year – to the housing projects approved till 31 March 2020.

21. A scheme of ‘Business loans up to Rs. 1 crore in 59 minutes’ will be implemented.
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