By now, you might have read about the union budget released today. Finance minister Piyush Goyal presented the much-awaited union budget in Lok Sabha. He was appointed interim finance minister on January 23rd in context to Arun Jaitley undergoing treatment in the United States.
To put out the highlights of the newly released Budget 2019, individual taxpayers with an annual income of 5 lakh rupees will get a full tax rebate (tax slabs yet to release). Followed by, gratuity limit increased from 10 lakh to 30 lakh rupees. Adding on, 3.5 lakh of rupees is allocated for defence, the highest ever coupled with a reduction in GST giving relief to middle class and labor class of the nation.
In this context, people have expressed their opinion on Twitter and here we bring a few of them to know its impact on the common audience.
HIGHLIGHTS OF BUDGET 2019
1.Full Tax rebate upto 5 lakh annual income after all deductions.
2.Standard deduction has increase from 40000 to 50000
3.Exempt on tax on second self-occupied house.#incometax #budget— Ashish Dave (@ashish_481) February 1, 2019
#Budget 2019
Income – INR 5,00,000 (TAX – NIL)
Income – INR 5,01,000 (TAX – INR 13,208)
!! No Marginal Relief !!#RebateNotExemption
— Seedhi_bat_Thok_k (@ParveenPoonia9) February 1, 2019
A balanced #Budget. A dream budget for Healthcare, Agriculture, Rural India and education sector. Hope, it will pave a way to New India.#Budget_2019
— Upadhyay Ashish (@AshishKhadauha) February 1, 2019
Tax Calculations with #Budget2019 provisions
Total Salary: 10.5 lacs
Deductions
Std Ded 50k
Sec 80C 150k
NPS 50k
Hsg Loan Interest 200k
Mediclaim Self 25k
Mediclaim Parents 50k
Donation 25kTotal Deduction 550k
Net Income 5 lac
Tax 12.5k
Rebate 12.5kNet tax to pay ZERO
— Nagpal Manoj (@NagpalManoj) February 1, 2019
Irrespective of who forms the new government in May 2019, this by far is a populist budget and any subsequent alterations will not be well received. #budget #budget2019
— Milesh Daru (@mpd12) February 1, 2019
Thank you @narendramodi Ji @PiyushGoyal Ji for changing our nation !!
Thank you @VijayaRahatkar Ji @BajpaiUsha Ji @ParasKGhelani Ji for all the great work you are doing every day to make a better world for us ??
Jai Hind ??#BudgetSession #InterimBudget #InterimBudget2019 https://t.co/wD7cMHuc2t
— Nabomita (@nabomita_smiles) February 1, 2019
(For those who tweeted about petrol price earlier)
Say your income is ₹5,00,000.
Bank deposit interest is ₹25,000.
No other deductions to keep it simple.You will be saving at least ₹18,200 more now thanks to #BudgetForNewIndia
That's 246 liters of free petrol in Bengaluru!
— Kiran Kumar S (@KiranKS) February 1, 2019
This #BudgetForNewIndia had relief for Poors, Farmers, Organized & Unorganized Laborers, Middle Class, Corporate, Entertainment Industry, Entrepreneurs.
Best All-Round Budget since Independence brought you by @narendramodi & @PiyushGoyal
(PC:@Atheist_Krishna ) pic.twitter.com/0BfDqp3SZJ
— Dhaval Patel (@dhaval241086) February 1, 2019
A Bhakt who is earning more than 5 lakh per annum. (2019) #Budget #Budget2019 pic.twitter.com/phGn1IY6GM
— History of India (@RealHistoryPic) February 1, 2019
creativity at its best #BudgetForNewIndia pic.twitter.com/QhrLuLj0Xs
— Shandilya Giriraj Singh (@girirajsinghbjp) February 1, 2019
What I liked in the whole Budget presentation was Rahul Gandhi's face.
He knew 2019 is gone .#BudgetForNewIndia— WINGS OF FIRE (@shenoy70) February 1, 2019
Casteless quota and a bumper #Budget2019 have kicked off #Elections2019 campaign. At least 8-10 big developments will unfold in the coming days, I feel.
This takes years of planning and uncanny political timing and patience. #BudgetForNewIndia #BudgetForNewIndia— Abhijit Majumder (@abhijitmajumder) February 1, 2019
Sonia Gandhi Right Now ??#BudgetForNewIndia #AbkiBaar400Paar pic.twitter.com/KCrQNZYhvi
— ?????? ?????? (@tiwari_ashish1) February 1, 2019
Middle Class right now#Budget2019 #BudgetForNewIndia #BudgetSession2019 pic.twitter.com/i3aB3iQAMt
— RVCJ Media (@RVCJ_FB) February 1, 2019
Bottom Line: 90% of tax payers are under 5 lakh tax slab category so this is big big move by FM @PiyushGoyal & PM @narendramodi.
Ignore rest of the noise & propaganda by opposition on limits, rebates & exemptions etc.
This is truly #BudgetForNewIndia
— Dhaval Patel (@dhaval241086) February 1, 2019
Lot of confused posts and WA messages on #BudgetForNewIndia
So to clarify:
Tax slabs have not changed.
The biggest benefit (#ZeroTax) is for those whose taxable income after deductions, comes to under ₹5,00,000. Those 3,00,00,000 individual tax payers are celebrating the most— Kiran Kumar S (@KiranKS) February 1, 2019
What do you think about this Budget 2019? Do let us know in the comments below.Â
