Live Updates: Union Budget 2019-20

Updated: Fri, 05 Jul 2019 07:38:50 GMT

Finance Minister Nirmala Sitharaman will present the union budget 2019-20 in Lok Sabha today, after being re-elected in the Modi government. Here are the live updates.

Live Updates

Customs duty on gold hiked to 12.5% from 10%

No announcement so far on any change in income tax rates.

High income bracket needs to contribute more: FM

Those in highest income bracket need to contribute more to national development. Propose to enhance surcharge on individual income of Rs 2-5 crore and over Rs 5 crore by 3% and 7% respectively: FM

5 Jul - 01:03 PM

New series of coin will be available for public use: FM

A new series of coins of Re 1, Rs 2, Rs 5, Rs 10, Rs 20 easily identifiable to the visually impaired were released by the PM on 7th March 2019. These coins will be made available for public use shortly.

5 Jul - 01:01 PM

2 per cent TDS levy on cash withdrawals exceeding one crore from a bank account: FM

To discourage practice of making business payments in cash, I propose to levy TDS of 2% on cash withdrawal exceeding Rs 1 crore a year from a bank account: Sitharaman

5 Jul - 12:58 PM

PAN and Aadhaar cards would soon be interchangeable.

5 Jul - 12:56 PM

Interchangeability of PAN and Aadhaar card to be allowed for ease and convenience to taxpayers. ITR can be filed without PAN by quoting Aadhaar

5 Jul - 12:54 PM

Additional ₹1.5 lakh income tax deduction on home loan interest paid for buyers of affordable homes till 2020: FM

This means those purchasing affordable house will get tax relief up to Rs 3.5 lakh on interest paid

5 Jul - 12:54 PM

Start-ups won't be subject to scrutiny on angel tax.

5 Jul - 12:53 PM

Additional tax deduction of rs 150,000 on interest paid on housing loans

Finance Minister Nirmala Sitharaman proposes to allow an additional tax deduction of 150,000 rupees on interest paid on housing loans for self-occupied house owners.

5 Jul - 12:52 PM

Corporate tax on companies with turnover up to₹400 crore reduced to 25%: Budget

5 Jul - 12:48 PM

Four another embassies to open overseas: FM

"The govt intends to open another 4 embassies, new ones, in the year 2019-20. This will not increase the footprint of India's overseas presence but also enable us to provide better & more accessible public services especially to the local Indian communities in these countries," FM says.

5 Jul - 12:44 PM

Due to slew of efforts taken by our government, the direct tax revenue has increased to Rs 11.37 lakh crore from 2013-14 to 2018-19: FM

"Because of taxpayers, government is able to work for a collective dream of inclusive development. My tax proposals will aim to stimulate growth. Aim to simplify tax admin and bring greater transparency," Sitharaman says.

5 Jul - 12:42 PM

External debt to GDP less than 5%. The lowest globally: FM

5 Jul - 12:41 PM

Disinvestment target of Rs 1 lakh crore for FY20: FM

5 Jul - 12:40 PM

New series of coins including 20-rupee coin to be introduced, says Finance Minister

5 Jul - 12:36 PM

Rs 70,000 PSU Bank recapitalisation

The government has proposed to allocate Rs 70,000 crore for PSU Bank recapitalisation.

5 Jul - 12:35 PM

Govt proposes to return the regulation authority over housing finance sector from National Housing Board to the RBI: FM

5 Jul - 12:30 PM

NPA recovery of Rs 4 lakh crore: FM

Non-performing asset (NPAs) recovery of Rs 4 lakh crore over the last four years, NPAs down by Rs 1 lakh crore in the last one year

5 Jul - 12:29 PM

Proposed Aadhaar Card for NRIs

5 Jul - 12:19 PM