Live updates and discussion on Budget

Proposal to benefit 99% companies filing tax returns

Standard deduction for salaried taxpayers for transport and medical allowance up to Rs. 40000.

FM says, deduction for senior citizens increased to Rs 50,000 for medical insurance 

Rs 19,000 cr revenue loss on direct tax: FM   

Incentives for senior citizens: Exemption of interest income on bank deposits raised to Rs. 50,000

Deduction limit for medicare up to Rs 80,000 senior citizens, for every senior citizens upto rs 1 lakh

Govt levies long-term capital gains tax of 10% for over Rs 1 lakh investments: FM: #UnionBudget2018

Proposal to exempt transfer of derivatives, certain securities by NRIs from capital gains tax

Propose to amend income tax act for electronic assessments: FM: #UnionBudget2018

Current cess of 3% to be increased to 4% as Health and Education Cess.