BUDGET 2019-20 Highlights for exams
Union Budget 2019 News Finance Minister Nirmala Sitharaman presented the maiden budget of Narendra Modi 2.0 government in the Lok Sabha. Highlights of Union Budget 2019 PAN and Aadhaar will become interchangeable. You can use your Aadhaar number to file your I-T Returns soon. ₹5 lakh minimum limit announced for taxpayers. In view of rising income levels, those in the ₹2-5 crore and ₹5 crore-and-above brackets will see increase in effective tax rate by 3% and 7%, respectively. GST rate on electric vehicles proposed to be lowered to 5%. Additional income tax deduction of ₹1.5 lakh on interest on loans taken to purchase electric vehicles. Additional deduction of ₹1.5 lakh on loans up to March 31 2020 for buying affordable houses, giving ₹ 7 lakh benefit to home buyers.…

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