New Delhi: India’s first full-time woman Finance Minister Nirmala Sitharaman on July 5, 2019, presented the first budget of Modi 2.0 government.
During her speech, she made no announcement to change income tax slabs. For those earning less than Rs 2 crore per annum, there was no change in tax rates and the slabs also remained unchanged.
To ease the burden on the middle class, the FM proposed an additional deduction of Rs 1.5 lakh for interest paid on loans borrowed up to March 31, 2020.
Giving a little relief to taxpayer she made one more important announcement of interchangeability of Aadhaar and PAN. FM proposed to make Aadhaar and PAN interchangeable, after which now the taxpayer who does not have PAN card can use Aadhaar to file IT Return.
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