Interim Budget 2019 Expectations
- Blog|Income Tax|
- 2 Min Read
- By Taxmann
- Last Updated on 28 June, 2022
NDA Government will be Announcing the Interim Budget for 2019 on 1st of February:
Income Tax benefits and other incentives for the middle-class:
The interim budget may double the income-tax exemption limits from 2.5 lakhs to 5 lakhs to reduce the tax burden of the small households. There could also be an increase in deduction under Section 80C from 1.5 lakhs to 2 lakhs to incentivize savings. It is also expected in reduction in highest personal income tax rate from 30% down to 25%.
Real Estate Reforms:
Real Estate is expecting the NDA government to rationalize the GST slab for the properties which are under construction and bring stamp duties under the purview of GST.
Relief for Start-up:
NDA Government have passed various procedures to promote startups in India which sort of put the startups under limelight in India and endeavored to bring in innovation and created various job opportunities and opportunities for wealth creation. Startups in India are expecting NDA government to give more clarity on Angel Tax, to have policy reforms to promote digital transaction, imbibe the ‘ease of shutting down’ for startups, to introduce tax holiday for government registered startups, boost establishment of incubators and accelerators, soften the GST rates for fund managers and more clarity of tax on ESOPs.
Also Read: Budget 2019 Highlights
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