Budget 2019: Salary Upto 5 Lakhs Tax Free? Here’s Everything You Need To Know

The acting finance minister, Piyush Goyal, released the Interim Budget in the Lok Sabha yesterday, which resulted in quite an uproar, especially from the middle class tax payers.

But there is a crucial detail that many may have missed. According to the announcements made, people with taxable income up to 5 lakhs per annum would be receiving a full tax rebate.

However, the truth remains, people with taxable income of more than 5 lakhs will not be able to avail of the same benefits.

According to Mr. Suraj Chokhani, who spoke to us on behalf of the ‘aam aadmi’ of the country, the key is in the details, and the manner of presentation.

The way in which the budget was presented, a layman would assume that the basic exemption limit on taxable income had been raised from 2.5 lakhs to 5 lakhs.

But there is more to it than meets the eye.

The keyword here is ‘rebate’, which Mr. Goyal used instead of ‘exemption’. An exemption would mean that every individual earning upto 5 lakhs per annum would be exempt or not liable to pay taxes.

Instead, it is the rebate for people earning between 2.5 lakhs to 5 lakhs per annum which has been revised. Under Section 87A of the Income Tax Act, the rebate has been increased from Rs. 2,500 to 12,500.

The government has simply raised the rebate value to Rs. 12,500 while the tax slabs remain the same. The income limit for people who are able to avail of this rebate has been increased from 3.5 lakhs to 5 lakhs.

In other words, it can be said that the people who will benefit from the policies would be the poor, who earn less than 5 lakhs per year. On the other hand, there has been no tax relief for those earning more than 5 lakhs.

For people with income more than 5 lakhs, a 20 % tax will be imposed as per the current structure.

A gist, to help you summarize the tax rates for people below the age of 60:
• No tax for people earning 2.5 lakhs
• Tax rebate (from 2.5 lakhs to 5 lakhs) increased from 2,500 to 12,500 INR.
• 20 % tax for people earning between 5 lakhs and 10 lakhs
• 30 % tax for people earning more than 10 lakhs.

When we asked Mr. Chokhani about the financial support package of Rs. 6000 offered to the farmers, he used an ancient quote to explain the situation. He said,

“Give a Man a Fish, and You Feed Him for a Day. Teach a Man To Fish, and You Feed Him for a Lifetime.”

He is unsure of how far the farmers will be able to reap the benefits of the scheme proposed by the Budget. He feels that this might provide temporary relief only. On the other hand, this amount could have been used to strengthen the infrastructure, since that would have better aided the farmers in the long run.

All we ask is, before you celebrate the tax breaks, please make sure that you understand all the terms and conditions and the intricate details.

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Jason Roy Took An Insane Catch Against Chittagong Vikings In BPL, People Are Calling Him Superman

During this season’s Bangladesh Premier League (BPL), England batsman Jason Roy took an unbelievable catch, which is praised by all. It has to be this season’s best.

Roy failed to impress as a batsman but this insane catch, stood out. During the eighth over, he managed to pull this off in the forth ball.

He took this blinder catch for the Sylhet Sixers against Chittagong Vikings at the Shere Bangla National Stadium.
Sylhet Sixers won by 29 runs though.

You surely cannot miss this insane catch he took. Here it is.

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People agreed that this is the kind of catch they’ll not witness in a very long time.

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So, what are your thoughts? Share with us.

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Vicky Kaushal Finally Reacts On ‘How’s The Josh’ Dialogue In A Heartfelt Post & You Need To Read It

Vicky Kaushal is one actor who has shined in all the roles that he has got to play, whether they are supporting or lead ones. He has once again proved his capability in movie “Uri: The Surgical Strike” which is going to touch the 200 crore mark very soon. It is the third week of the flick and it has beaten films like “Sanju”, “Simmba” and “Padmaavat” as far as the earnings of the third week are concerned.

There is one dialogue in the movie which has become very popular and people including kids are speaking it on various occasions. Yes, you guessed it right! We are talking about “How’s The Josh” and it was also used by the Indian Finance minister Piyush Goyal while presenting the budget in the Parliament.

Actor Vicky Kaushal has written a heart-touching post to his fans and followers and thanked them for making this dialogue so famous. According to him, he has been receiving and watching so many videos every day and he feels that it is no more a dialogue but an emotion now.

Here is the full Instagram post of the “Masaan” actor:

“It’s not just a line anymore… I get so many “How’s the Josh?!” videos from you all everyday, each one made with so much love and passion, from schools, colleges, cafes, work places… from people fighting the cold in minus temperatures to people sweating it out in the gym… from conference meetings to marriage ceremonies… from a 92 years old grandmother to a 2 years old kid… from even our Jawaans in the armed forces. It’s not just a line anymore, you all have turned it into an emotion… an emotion so strong and special, I’m going to cherish for life. Thank You everyone. इस प्यार और सम्मान के लिए तहे दिल से शुक्रिया। ❤🙏”

The other actors who played important roles in the movie are Paresh Rawal, Yami Gautam and Mohit Raina.

So, how’s the josh?

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Polar Vortex 2019: It Is So Cold In The US That Everything’s Frozen, You Can’t Miss The Footage

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Rohit Sharma Posted A Sweet Message About His Wife On Instagram, Gets Trolled By Bharat Army Instead.

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Sakshi & Anushka’s School Days Pic Is Going Viral. Can You Identify Them?

Indian cricketer and former skipper MS Dhoni and captain of Indian cricket team Virat Kohli are not just teammates but good friends as well and the same thing can be said for their wives too but not many people know that Sakshi and Anushka have been schoolmates also. In an interview, Anushka told that she and Sakshi studied in the same school in the state of Assam and there’s a quite good tuning between them.

At the present time, the photos of Sakshi and Anushka’s school days are going viral on the Internet. In one of the pics, Sakshi can be seen dressed as a fairy while the “Zero” actress is in a Ghaghara, just like her idol actress Madhuri Dixit.

In another image, Anushka’s brother Karnesh can also be seen enjoying and having great time with both of them.

Check out pics:

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Anushka told in an interview that when they met after a long time, they talked a lot. At that time, Sakshi told her that she lived in a small town in Assam and also informed about the school where she studied. The actress also told her that she used to live in the same town and studied in the same school. Later Anushka found the picture of both of them, which is going viral nowadays.

Meanwhile, India has beaten New Zealand in the ODI series and currently Virat and Anushka are using their time in having fun and regularly posting their photos on social media.

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Pakistan Cricketer Fakhar Zaman Used Cuss Words On Field, Gets Recorded On Stump Mic

We all know about the ongoing ODI series at Newlands between Pakistan and South Africa. The fifth ODI ended with South Africa winning by 6 runs.

Now, an incident occurred during the twelfth over, when Pakistan’s innings was going on. Pakistan’s popular batsman Fakhar Zaman was against Kagiso Rabada.

But, thing didn’t turned out the way he expected and he got deceived by Rabada, as it turned out to be a slow delivery. And he got struck in his ribcage while tackling that short length delivery.

Watching this incident and a miss by his partner, Babar Azam went to check on with Zaman. Where while the two cricketers were talking their stump mic caught their whole conversation.

Check the incident here.

Pakistan’s star cricketer was caught using cuss words, while explaining to his on field partner what happened actually, why he missed it.

This is one hilarious kind of incident that you won’t come across everyday on the field though.

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