The Finance Minister, Mr. Piyush Goyal has presented the interim Finance Bill 2019 today. The key highlights of the finance proposals are as follows:

 

1.      Individual tax payers: Income up to Rs. 5 lakh will get full rebate from income tax.

2.      Standard deduction for salaried persons and pensioners increased to Rs. 50,000/-.

3.      No income under notional rent in case of second self-occupied house.

4.      TDS threshold on interest on bank deposits/ Post office deposits increased to Rs. 40,000 from Rs. 10,000/-.

5.      TDS threshold on rent to increase to Rs. 240,000 from existing Rs. 180,000/-.

6.      Rollover of capital gains up to Rs. 2 crore for purchase of two residential houses. This can be taken once in a life time.

 

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