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Budget 2019: No income tax cheer for middle class; Rs 1.5 lakh deduction on interest for loans on e-vehicle, affordable housing; gold, petrol, diesel to cost more

Promoting the purchase of e-vehicles, Finance Minister Nirmala Sitharaman announced additional income tax deduction of Rs 1.5 lakh on interest paid on loans taken for e-vehicles. Sitharaman also announced additional Rs 1.5 lakh deduction in interest paid for affordable housing loans till March 2020. To encourage a digital economy, 2% TDS will be levied on cash withdrawals over Rs 1 crore in a year from one bank account.