Budget 2019: Common man's expectations on personal taxation
The finance minister has started seeking views from the general public on Budget 2019 with a view to making it more participative and inclusive and has been receiving an overwhelming response from people. One will have to wait and watch till July 5, 2019, to see what they deliver in the budget.
Homi Mistry, Niji Arora
and Vivek Mistry
Last Updated: June 25, 2019 | 14:14 IST
The interim Budget of 2019 that was announced in February 2019 was a common man-centric Budget. Substantial tax sops for individuals such as increasing the standard deduction from Rs 40,000 to Rs 50,000, no tax for individuals with income up to Rs 5 lakh (i.e. after considering rebate), no tax on notional rent from the second self-occupied property, were announced in the interim Budget.