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Budget Special 2019: Tax Will Not Be Given To Those Who Earn Up To Rs. 5 Lakhs

Budget 2019: High Market, Before The Announcement Of Finance Minister, Then Lose The Lead:

During the budget speech, the domestic share market has made a long jump. Finance Minister Piyush Goyal has given relief to people in the matter of income tax. Now, no tax will be paid on income up to Rs 5 lakhs. However, no changes have been made in the tax slab.

Apart from this, the market for the farmers also got support from the package. From this, the Sensex climbed more than 400 points to 36,670 points in the afternoon. Nifty 50 also saw the strength of 117 points. It reached close to 11000 points. In the afternoon, the market has lost its edge. Sensex slips to 200 points The Nifty 50 was also running only 45 points.

Shares of Hero MotoCorp and Maruti Suzuki climbed 7 percent in auto stocks. All stocks of the index were trading in a green mark. Jubilant Foodworks shares flew 7.5% on the FMCG Index. Godrej Consumer Products is the only stock to be rolled out. In fact, after the announcement of the government, the revenue generated in the hands of the general public will be more. With greater expenditure, consumption and related sectors will benefit. This will keep the money going in the market continuously.

BDO India’s Tax and Nimamak Service Partner Pranay Bhatia said, “Taxes have been given relief indirect taxes due to the increasing number of taxpayers and higher income from tax. Taxpayers have got the benefit of increasing the taxpayer base.” Pankaj Pandey, Research Head, ICICI Securities said, “The goals of the fiscal deficit are in simple boundaries and the budget is not very populist.” In the Budget, the Finance Minister has given a lot of relief to the agriculture sector along with the common man.

Goyal announced the Prime Minister Kisan Adhikar Nidhi, under which the government would give Rs 6000 per annum to the landholder for two hectares. Through this scheme, 12 crore farmers will be lacs to the families. For this, the government has prepared a budget of Rs. 75,000 crore. Renowned economist Swaminath Aiyar said on the subject that for farmers, this scheme looks fine. He said, “It is less than the relief given to farmers of Odisha and Telangana, but it seems possible at the fiscal level.”

Budget announcements come out in realty stocks

After the Finance Minister Piyush Goyal’s budget speech, the domestic stock market rose. Purchase in realty stocks increased after 1 p.m. The Finance Minister announced that the government is planning to reduce the GST burden falling on the home buyers. The Finance Minister announced that capital gains of up to Rs 2 crore under Section 54 have been extended to two houses from one house to another. Other home rentals will also be available. Also, income tax exemptions will be available on registered realty projects by 2020.

Following these announcements of the government, the shares of Indiabulls Real Estate climbed up to 6 per cent. Oberoi Realty (up 5.36 per cent), DLF (up 5.22 per cent) and Phoenix Mills (up 3 per cent) also showed steady growth. In addition to Unitech, shares of all the companies were strengthened.

The Nifty Realty Index was up 3.37 percent. The Nifty 50 Index also gained 112 points or 1.03 per cent to trade at 10,942 level. The BSE Sensex climbed 375 points or 1.04 percent to 36,632.

The tax will not be given to those who earn only Rs. 5 lakhs

In the interim budget, Finance Minister Piyush Goyal has given great relief to taxpayers. Now, whose income is up to Rs 5 lakh, he will not have to pay any tax. Tax exemption under section 87A has been given. There should be a note that there is no change in the tax slab. That is, the income is more than Rs 5 lakhs, then the rates of tax will remain the same as before.

Apart from this, the government has increased the standard deduction from Rs 40,000 to Rs 50,000. Also, the rent from the second house will not be taxed. Also, HRA claim has been increased to 2.4 lakh rupees annually. However, the investment limit in the 80C has been kept at Rs 1.5 lakhs.

After this announcement of the government, zoomed in on the Consumer and Consumer-based shares. Nifty FMCG index jumped more than 2 per cent. The auto index registered an increase of 4.5 percent.

Shalini Jain, the partner in EY India, says, “This means that people who have taxable income up to Rs 5 lakhs will not have to pay any tax. However, those whose income is more than Rs. 5 lakhs will not get this tax benefit. They will only get the standard deduction. “

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