As expected, the budget has been populist, where many sops have
been provided to middle-class tax payers and farmers. Overall, it
appears to be a well-balanced budget, with a mix of populist and
pragmatic statements. The most critical aspect to this was that the
fiscal deficit targets be maintained even after doling out
benefits. The real estate sector has been given an impetus by
extending the tax holiday for affordable housing- extending the
exemption period for taxing notional rent on unsold inventory from
one year to two years rollover capital gains benefit for two
houses, among others. This will go a long way in meeting the
government's aim of 'Housing for All by 2022'.
Here are some of the key points from Budget 2019 for Direct and
Indirect Tax:
