1. A full discount on yearly salary up to 500000 (5 lakh) for individual citizens.
2. Standard Deduction for Salaried representatives has been expanded by Rs. 10000 (from 40000 to 50000).
3. TDS on Interest Income u/s 194A, Ceiling Limit of which has been expanded from Rs. 10000 to Rs. 40000
4. TDS on Income from Rent u/s 194A, Ceiling Limit of which has been expanded from Rs. 180000 to Rs. 240000
5. Point of confinement of Gratuity has been expanded from Rs. 10,00,000 to 30,00,000
6. Expense appraisal and Verifications for IT Return will be done electronically with just about 2 years.
7. IT Returns will be prepared inside only 24 hours.