One of the most talked about announcement made by FM Piyush Goyal in his Interim Budget speech on 1 Feb 2019 was, annual income upto Rs 5,00,000 will be given full rebate under Income Tax Act. Soon after the news came out there were several interpretations drawn… There was confusion that the basic exemption limit has been increased to Rs 5,00,000 form its existing threshold of Rs 2,50,000. To remove the ambiguity let us see what was said in budget 2019 speech- Tax Rebate extract from the Budget 2019 SpeechSEE DETAILS

Modi government has pronounced 7 major reforms in Income Tax for the benefit of the middle-class taxpayers. These are as under – 1. Complete tax rebate u/s 87A has been announced to those earning annual taxable income upto Rs 5,00,000 2. No tax to those having gross income till Rs. 6.5 lakh if the investment has been made in specified savings. i.e. after availing the benefit of section 80C of Rs 1.5 lakh a person can save complete tax on the Gross income upto Rs 6,50,000. 3. Standard Deduction hasSEE DETAILS

Here are all announcements made by the Modi government in its last and 6th budget being the vote on account. Indian Interim Budget 2019-2020 was announced by the interim Finance Minister Mr. Piyush Goyal at the parliament house from 11 AM on 1st Feb 2019, Friday. There were a lot of hopes and rumors but let us see how the Interim Budget 2019 presented by the transitional government has in store for the common man, farmers, corporates and each one of us Major Relief to Farmers: Farmers owning up toSEE DETAILS

With the days of Budget 2019 announcement coming closer the expectations are being talked about loud!! In our second series of blog, let’s talk about the slab rates. We previously focused on drawing pictures of predicted slab limits but in today’s blog, we will focus upon the decrease in slab tax rates as foreseen form the Interim Budget to be soon presented by the NDA government this February. The existing slab tax rates as specified under the Income Tax Act 1961 for the Financial Year 2018-19 are likely to beSEE DETAILS