Education Budget 2019 Predictions: Middle-Class Seek Rise in Children Education Allowance As Nirmala Sitharaman Gets Ready for D-Day

New Delhi, June 28: Finance Minister Nirmala Sitharaman will present the Union Budget on July 5 in the Parliament and the middle-class is looking at her with eager eyes, as they are expecting relaxation under various sections of IT rules. The expectations are being thought of keeping in view the educational expenses of their children.

According to a report, published in the Financial Express, the limit for Children Education Allowance (CEA) is currently Rs 100 per month for a salaried middle class. In the Union Budget 2019, these middle-class salaried people are expecting a rise in the amount to at least Rs 1,000 per month per child for a maximum of two children, or actual expenses, whichever is less. Union Budget 2019 Predictions: Finance Minister Nirmala Sitharaman to Open Pandora Box on July 5; Here's What to Expect

It is to be known that the in the Interim Budget - presented by the Union Minister Piyush Goyal - the Income Tax for the middle class was exempted till Rs 5 lakhs per annum (LPA), while no changes were made in the other tax slab of higher ranges. Earlier the tax exemption was applicable till Rs 2.5 LPA.

Here's the Video of Union Budget 2019 Predictions:

Under various sections - like 80C, 80TTA and 80TTB - amount deductions are applicable for the service class. The deductions are ranged based on the being provided the IT authorities appropriate documents pertaining to certain clauses. The deductions range of tax on amount range between Rs 10,000 to Rs 1,50,000.

(The above story first appeared on LatestLY on Jun 28, 2019 07:12 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).