Budget 2019 vs previous budgets: What Modi govt gifted to income tax payers in last 4 budgets
The first Budget of BJP-led NDA government was introduced as a base for 'achhe din'. It was firmly welcomed by the salaried tax payers as it increased the basic exemption limit and the tax deduction under Sec 80 C. However, people were expecting more in the subsequent Budgets. While some more exemptions have been offered to taxpayers, Budgets have also levied additional taxes.
In 2018 budget, Modi government made medical allowances taxable. The budget also witnessed an increase in cess from 3% to 4% for taxpayers. Moreover, 10% tax on LTCG from equities exceeding Rs 1 lakh. PTI