No income tax for income up to Rs 6.5 lakh (Rs 5 lakh + Rs 1.5 lakh under 80C of the Income Tax Act)
Standard deduction raised to Rs 50,000 from Rs 40,000
Direct tax proposals to provide Rs 23,000 cr relief to 3 crore taxpayers
Capital Gains exemption under Section 54 to be available on two house properties
Persons with gross income up to Rs 6.50 lakh not required to pay any income tax if they make investments in provident funds, specified savings and insurance.
TDS limit hiked from Rs 10,000 to Rs 40,000 on post-office savings
No tax if you own second house
No tax on notional rent on second house
Tax on notional rent on unsold inventory to not be paid for 2 years
TDS threshold on rent to be increased to Rs 2.40 lakh from Rs 1.80 lakh
Tax benefits for affordable housing extended till March 31, 2020
Allocated Rs 20,000 crore in 2018-19, Rs 75,000 crore for FY2019-20 for PM-KISAN scheme
Rs 3,000/month pension for 10 cr unorganised sector workers with contribution of Rs 100/55 per month under PM Shram Yogi Maandhan scheme
Current Account Deficit pegged at 2.5% of GDP for FY20
2% interest subsidy for MSMEs on an incremental loan of Rs 1 crore for GST-registered entities
