No Income tax for individuals with Annual Taxable Income of upto Rs. 5 lakh. No change in Income Tax Slabs.; Surcharge increased by 3% for individuals with Income of Rs. 2-5 crores and by 7% for income more than Rs. 5 crores.; Aadhaar card can now be used interchangeably for PAN card. Thus, you no longer need PAN to file income tax returns.;
No Income tax for individuals with Annual Taxable Income of upto Rs. 5 lakh. No change in Income Tax Slabs.
Surcharge increased by 3% for individuals with Income of Rs. 2-5 crores and by 7% for income more than Rs. 5 crores.
Aadhaar card can now be used interchangeably for PAN card. Thus, you no longer need PAN to file income tax returns.
Additional deduction of Rs. 1.5 lakhs for interest on home loan availed for purchase of Affordable houses of up to Rs. 40 lakh till March 2020.
Income tax deduction of Rs. 1.5 lakhs for interest on loan taken to buy an electric vehicle.
The annual turnover limit for corporate tax of 25% increased to Rs. 400 crores.
TDS of 2% on cash withdrawal of more than Rs. 1 crore in a year from a bank account to discourage business payments in cash.
Excise Duty on fuel hiked by Re. 1.