While the income tax slab rates were kept unchanged, Finance Minister Nirmala Sitharaman on Friday announced a number of new income tax proposals while presenting Budget 2019.
"My tax proposals will aim to stimulate growth, incentivise affordable housing, and encourage start-ups by releasing entrepreneurial spirits. It will also be geared towards promoting digital economy. I aim to simplify tax administration and bring greater transparency," said Sitharaman in her maiden Budget speech.
Here are the five key changes related to income tax in Budget 2019:
1) Interchangeability of PAN and Aadhaar: For ease and convenience of taxpayers, the government has proposed to make