HIGHLIGHTS OF BUDGET 2019 *Tax* 1. Within 2 years, Tax assessment will be done electronically 2. IT returns processing in just 24 hours 3. Minimum 14% revenue of GST to states by Central Govt. 4. Custom duty has abolished from 36 Capital Goods 5. Recommendations to GST council for reducing GST rates for home buyers 6. *Full Tax rebate upto 5 lakh annual income after all deductions.* 7. Standard deduction has increase from 40000 to 50000 8. Exempt on tax on second self-occupied house 9. Ceiling Limit of TDS u/s 194A has increased from 10000 to 40000 10. Ceiling Limit of TDS u/s 194I has increased from 180000 to 240000 11. Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses. 12. Benefit u/s 80IB has increased to one more year i.e. 2020 13. Benefit has given to unsold inventory has increased to one year to two years. *Other Areas* 14. State share has increased to 42% 15. PCA restriction has abolished