Budget 2019 – $3 trillion economy by fiscal 2020
![Budget 2019](https://blog.moneyfrog.in/wp-content/uploads/2019/02/budget-2019-2.png)
Key Announcements on Income Tax:
- Empty bag for salaried, as old slabs continues
- Super rich to be squeezed more (2 crs & upward) with additional surcharge
- Additional deduction of ₹1.5 lac on home loan interest paid offered – but for affordable house of ₹45 lacs borrowed, on or before March 31, 2020
- PAN & AADHAAR number now becomes inter-operable
- Pre-filled Tax return form to be available soon
- EV purchase loan benefit (electric vehicle) – 1.5 lacs interest benefit on the loan
- Cash withdrawals over ₹1 crore a year will attract TDS of 2%