Individual tax payers with annual income upto 5lakh rupees to get full tax rebate.
Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident fund and prescribed equities.
Tax slabs for those with income over Rs 5 lakh remain unchanged.
Standard tax deduction for salaried person raised from 40000 rupees to 50000 rupees.
TDS threshold on rental income raised from 1.8 lakh to 2.4 lakh rupees.
Gratuity limit increased from 10lakh to 30lakh rupees.
TDS on interest income from deposit in banks and post office up to Rs 40000 against 10000 earlier.
Benefit of rollover of capital gain tax to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gain upto 2crore rupees; can be exercised once in a lifetime.
Benefit u/s 80(i)BA being extended for one more year for all housing projects approved till end of 2019-2020.
Businesses with less than 5cr turnover, comprising of 90% GST payers, will be allowed to return quarterly returns.
GST has been continuously reduced, resulting in relief of 80000 cr rupees to consumers; most item of daily use for poor and middle class are now in the 0%-5% tax bracket.
Two per cent interest subvention on loan of 1cr fore GST registered MSME units.
Single window clearance for filmmakers to be made available to INDIAN filmmakers, anti-camcording provisions to be introduced to cinematography Act to combate film privacy.
Allocation for North Eastern region proposed to be increased to Rs 58166 cr in this year a rise of over 21% from the previous year.
Increased allocation of Rashtriya Gokul Mission to 750cr in current year.
Two percent interest subvation to farmers persuing animal husbandry and fisheries.
Mega pension yojana, namely Pradhan Mantri Shram Yogi Mandhan , to provide assured monthly pension of Rs 3000 per month ,with contribution of 100rupees per month, for workers in unorganized sector after 60 years of age.
Under Pradhan Mantri Kisan Samman Nidhi, 6000 rupees per year for each farmer, in three installments , to be transferred directly to farmers bank accounts, for farmers for less than 2 hectares land holding.