Government announces new education policy to bring education to the international level. National Research Foundation will be formed to ensure the strengthening of the research ecosystem in the country. Finance Minister proposes to allocate Rs 400 cr for world-class higher education institutions in FY20.

Budget 2019: Government of India announces new education policy

This segment of WION brings to you latest updates on Indian Union Budget 2019-20 presented by Finance Minister Nirmala Sitharaman. Watch this video for more information. #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

Modi 2.0, Budget 1.0: Power to all by 2022

The Centre has rolled out a number of schemes for middle-class homebuyers that are expected to entail net gains worth Rs 7 lakh, in a big boost towards the goal of 'Housing for All'.

<a href="https://www.wionews.com/business-economy/budget-2019-nirmala-sitharaman-to-launch-study-in-india-initiative-to-encourage-foreign-students-233240">Finance Minister Nirmala Sitharaman</a>, while presenting the <a href="https://www.wionews.com/business-economy/budget-2019-finance-minister-sitharaman-proposes-opening-up-insurance-aviation-sectors-to-boost-growth-233235">Union Budget 2019-20 in Parliament </a>on Friday, proposed additional deduction of Rs 1.5 lakh for interest paid on loans borrowed up to March 31, 2020.

This move, Sitharaman said, will translate into a benefit of Rs 7 lakh for middle-class homebuyers over their loan period of 15 years.

Those purchasing homes valued up to Rs 45 lakh under the affordable housing scheme, Sitharaman said, can avail enhanced interest deduction up to Rs 3.5 lakh.

"For realisation of the goal of 'Housing for All' and affordable housing, a tax holiday has already been provided on the profits earned by developers of affordable housing. Also, interest paid on housing loans is allowed as a deduction to the extent of Rs. 2 lakh in respect of self-occupied property," she added.

Talking about rental tenancy laws, Sitharaman said the Centre would take substantial steps to promote rental housing for which government would make amendments in the existing rental laws.

"Current rental laws are archaic as they do not address lessor-lessee relationships fairly," she said, adding that the new tenancy rules would be shared with the states.

The Centre has rolled out a number of schemes for middle-class homebuyers that are expected to entail net gains worth Rs 7 lakh, in a big boost towards the goal of 'Housing for All'.

The Centre has rolled out a number of schemes for middle-class homebuyers that are expected to entail net gains worth Rs 7 lakh, in a big boost towards the goal of 'Housing for All'. Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2019-20 in Parliament on Friday, proposed additional deduction of Rs 1.5 lakh for interest paid on loans borrowed up to March 31, 2020. This move, Sitharaman said, will translate into a benefit of Rs 7 lakh for middle-class homebuyers over their loan period of 15 years. Those purchasing homes valued up to Rs 45 lakh under the affordable housing scheme, Sitharaman said, can avail enhanced interest deduction up to Rs 3.5 lakh. "For realisation of the goal of 'Housing for All' and affordable housing, a tax holiday has already been provided on the profits earned by developers of affordable housing. Also, interest paid on housing loans is allowed as a deduction to the extent of Rs. 2 lakh in respect of self-occupied property," she added. Talking about rental tenancy laws, Sitharaman said the Centre would take substantial steps to promote rental housing for which government would make amendments in the existing rental laws. "Current rental laws are archaic as they do not address lessor-lessee relationships fairly," she said, adding that the new tenancy rules would be shared with the states.

Centre announces benefits worth Rs 7 lakh for middle-class homebuyers

In Budget 2019, Nirmala Sitharaman proposes tax rebate to buy electric vehicle. #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

Budget 2019: Nirmala Sitharaman proposes tax rebate to buy electric vehicle

In Budget 2019, Nirmala Sitharaman proposes Aadhaar cards for NRIs on arrival in India. #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

Budget 2019: Nirmala Sitharaman proposes Aadhaar cards for NRIs on arrival in India

The <a href="https://www.wionews.com/india-news/union-budget-2019-this-budget-gives-hope-to-country-shows-we-are-on-right-track-pm-modi-233239">Union Budget 2019-20</a> on Friday proposed to extend the lower rate of 25 per cent corporate tax to all companies with annual turnover up to Rs 400 crore.

Currently, this rate is only applicable to companies having annual turnover up to Rs 250 crore. Presenting the Budget in Parliament, Finance Minister <a href="https://www.wionews.com/business-economy/budget-2019-finance-minister-sitharaman-proposes-opening-up-insurance-aviation-sectors-to-boost-growth-233235">Nirmala Sitharaman said</a>: "This will cover 99.3 per cent of the companies.&nbsp;Now only 0.7 per cent of companies will remain outside this rate."

The Budget also proposed to make PAN and Aadhaar interchangeable and allow those who do not have PAN to file income tax returns by simply quoting their Aadhaar number and also use it wherever they are required to quote PAN. Sitharaman said more than 120 crore Indians now have Aadhaar and the proposal aims at ease and convenience of taxpayers.

At the same time, pre-filed tax returns will be made available to taxpayers which will contain details of salary income, capital gains from securities, bank interests, dividends and tax deductions. "This will not only significantly reduce the time taken to file a tax return, but will also ensure accuracy of reporting of income and taxes," said Sitharaman.

Watch:&nbsp;India will become a $3-billion economy this year, says Nirmala Sitharaman

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A scheme of faceless assessment in electronic mode involving no human interface will be launched in a phased manner. To start with, such e-assessments will be carried out in cases requiring verification of certain specified transactions or discrepancies, she added.

The Budget also proposed to levy tax deduction at source of two per cent on cash withdrawal exceeding Rs 1 crore in a year from a bank account.&nbsp;

This is in continuation of a number of initiatives taken in the recent past for the promotion of digital payments and less cash economy and to promote digital payments further, said the minister.

The Union Budget 2019-20 on Friday proposed to extend the lower rate of 25 per cent corporate tax to all companies with annual turnover up to Rs 400 crore. Currently, this rate is only applicable to companies having annual turnover up to Rs 250 crore.

The Union Budget 2019-20 on Friday proposed to extend the lower rate of 25 per cent corporate tax to all companies with annual turnover up to Rs 400 crore. Currently, this rate is only applicable to companies having annual turnover up to Rs 250 crore. Presenting the Budget in Parliament, Finance Minister Nirmala Sitharaman said: "This will cover 99.3 per cent of the companies. Now only 0.7 per cent of companies will remain outside this rate." The Budget also proposed to make PAN and Aadhaar interchangeable and allow those who do not have PAN to file income tax returns by simply quoting their Aadhaar number and also use it wherever they are required to quote PAN. Sitharaman said more than 120 crore Indians now have Aadhaar and the proposal aims at ease and convenience of taxpayers. At the same time, pre-filed tax returns will be made available to taxpayers which will contain details of salary income, capital gains from securities, bank interests, dividends and tax deductions. "This will not only significantly reduce the time taken to file a tax return, but will also ensure accuracy of reporting of income and taxes," said Sitharaman. Watch: India will become a $3-billion economy this year, says Nirmala Sitharaman A scheme of faceless assessment in electronic mode involving no human interface will be launched in a phased manner. To start with, such e-assessments will be carried out in cases requiring verification of certain specified transactions or discrepancies, she added. The Budget also proposed to levy tax deduction at source of two per cent on cash withdrawal exceeding Rs 1 crore in a year from a bank account. This is in continuation of a number of initiatives taken in the recent past for the promotion of digital payments and less cash economy and to promote digital payments further, said the minister.

Budget 2019: Sitharaman proposes interchangeable PAN, Aadhaar for filing income tax returns

In Budget 2019, One woman in every SHG to be eligible for loan upto 1 lakh under Mudra scheme.

Budget 2019: One woman in every SHG to be eligible for loan upto 1 lakh under Mudra scheme

In Budget 2019, Govt will bring New Education Policy at par with international level, says Sitharaman

Budget 2019: Govt will bring New Education Policy at par with international level, says Sitharaman

Budget 2019: 'Time to increase minimum public shareholding in listed companies to 35%'.

Budget 2019: 'Time to increase minimum public shareholding in listed companies to 35%'

Budget 2019: India will become a $3-billion economy this year, says Nirmala Sitharaman.

Budget 2019: India will become a $3-billion economy this year, says Nirmala Sitharaman

Nirmala Sitharaman focuses on 'Gaon, Gareeb aur Kisan' in her first Budget in Union Budget 2019-20.

Budget 2019: Nirmala Sitharaman focuses on 'Gaon, Gareeb aur Kisan' in her first Budget

Budget 2019: Finance Minister Nirmala Sitharaman sets the 'ball rolling for New India'.

Budget 2019: Finance Minister Nirmala Sitharaman sets the 'ball rolling for New India'

Finance Minister Nirmala Sitharaman presents Union Budget 2019-20 in Lok Sabha. Watch this video for more in details. #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

Finance Minister Nirmala Sitharaman presents Union Budget 2019-20 in Lok Sabha