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Union Budget 2019-20 Highlights : FM Goyal says no tax on income up to Rs 5 lakh

Budget is unquestionably pro-growth and fiscally prudent, says Union Minister Arun Jaitley

  • Feb 01, 12:58 PM (IST)  In terms of new highs the market is making and the improving breadth I won't be surprised if we tested new highs before general elections, Ramesh Damani tells CNBC-TV18
  • Feb 01, 12:56 PM (IST)  Consumption to GDP ratio in India is extremely low and taxes had slowed down consumption. The tax moves announced today will be significant in reviving consumption, says HDFC's Deepak Parekh
  • Feb 01, 12:46 PM (IST)  Sensex gives a 300-point salute to the raft of announcements, as the market expects an uptick in consumption. Will the Budget be enough to put this market in firm bull market territory? Time will tell. - Nazim Khan, Senior Editor.
  • Feb 01, 12:45 PM (IST)  Notional rent on unsold real estate inventory - Tax to be levied after 2 years from date of completion of project. Previously, it was 1 year. Real estate stocks such as Oberoi Realty, Godrej Properties, Sunteck Realty, HUDCO rally. - Krishna Karwa, Research Analyst.
  • Feb 01, 12:44 PM (IST)  Goyal concludes his Budget speech with the quote, " Ek paav rakhta hun, hazaar raahein phoot padti hai." which literally means one step opens up a thousand roads.

Feb 01, 12:44 PM (IST)  Also, this Budget shows NDA's desperation. This probably the best way to gain back trust of the voters. Or, if the coin flips (by chance), the next Government will have a really tough time to live up to all the promises the Modi Govt is making right now. - Sounak Mitra - Associate Editor.

  • Feb 01, 12:44 PM (IST)  Also, this Budget shows NDA's desperation. This probably the best way to gain back trust of the voters. Or, if the coin flips (by chance), the next Government will have a really tough time to live up to all the promises the Modi Govt is making right now. - Sounak Mitra - Associate Editor.

Feb 01, 12:41 PM (IST)  Arun Jaitley might be missing all the fun while Piyush Goyal is cutting the cake that he (Jaitley) baked. - Sounak Mitra - Associate Editor.Feb 01, 12:40 PM (IST)  This is not just a budget but lays out the path to progress of the country, he says

  • Feb 01, 12:40 PM (IST)  TDS limit hiked from Rs 10,000 to Rs 40,000 on Post-Office savings.
  • Feb 01, 12:39 PM (IST)  No tax on notional rent on second self-occupied house and no tds on house rent up to Rs 2.4 lakh  
  • Feb 01, 12:38 PM (IST)  FM raises standard deduction from Rs 40,000 to Rs 50,000.
  • Feb 01, 12:37 PM (IST)  TDS on interest income from bank deposits now at Rs 40,000 from Rs 10,000
  • Feb 01, 12:36 PM (IST)  Income upto Rs 5,00,000 to be exempt from income tax, to boost consumer spending. Positive for FMCG stocks and auto stocks. - Ruchi Agrawal - Senior Research Analyst.
  • Feb 01, 12:35 PM (IST)  Standard deduction has also been raised to Rs 50,000 from Rs 40,000
  • Feb 01, 12:35 PM (IST)  So those with income up to Rs 5 lakh and another Rs 1.5 lakh in investments totalling Rs 6.5 lakh will have to pay no tax. Will benefit nearly Rs 3 crore middle class income earners
  • Feb 01, 12:35 PM (IST)  Piyush Goyal serves the whole thaali....and keeps the dessert for the end.......#TaxRebate..... - Viju Cherian - Opinion Editor
  • Feb 01, 12:34 PM (IST)  That puts Rs 12,500 per annum in people's pockets---more than Rs 1,000 per month, more than double what the farm package gives to small and marginal farmers. - Manas Chakravarty, Group Consulting Editor.
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  • Feb 01, 12:34 PM (IST)  It finally comes. From 'Thank you tax payers', to doubling the slab for tax rebate. Now, tax payers would say: "Thank you Mr FM". - Sounak Mitra - Associate Editor.
  • Feb 01, 12:33 PM (IST)  Govt announces tax exemption for income up to Rs 5 lk/yr: FM
  • Feb 01, 12:32 PM (IST)  The shortest interim Budget was given by HM Patel in 1977. This could be the longest. - Prince Thomas, Corporate Bureau Chief.
  • Feb 01, 12:31 PM (IST)  Individual tax payers with taxable annual income up to Rs 5 lakh will get full tax rebate
  • Feb 01, 12:30 PM (IST)  Some benefits must therefore also be passed on the middle class tax payers. Keeping this in view I propose to reduce the tax burden on tax payers. The salary earners, pensioners and senior citizens should not wait to get clarity on their taxes, he said
  • Feb 01, 12:29 PM (IST)  Goyal thanks taxpayers for their contribution toward the well being of the society and providing basic amenities to the poor. "The tax you pay will provide healthcare to 50 crore brothers, sisters and children," he says
  • Feb 01, 12:28 PM (IST)  Confident of reaching Rs 80,000 Cr divestment target: FM
  • Feb 01, 12:27 PM (IST)  Will focus on debt consolidation along with fiscal consolidation, says Goyal