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Union Budget 2024: Experts call for enhancement of deduction limit under 80C, simpler terms for capital gains tax

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Union Budget 2024: Experts call for enhancement of deduction limit under 80C, simpler terms for capital gains tax

Budget expectations: When it comes to yearly tax savings, Section 80C is one of the widely used tools for salaried individuals and Hindu Undivided Families (HUFs). Under Section 80C of the Income Tax Act, salaried individuals and Hindu Undivided Families (HUFs) are entitled to income tax benefits of up to Rs 1.5 lakh by investing in … Read more

Income tax return: How tax exemptions are different from tax deductions. Explained

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Income tax return: How tax exemptions are different from tax deductions. Explained

ITR: Filing tax returns is an annual affair. One should know every detail about the components in Form 16 and how one can get the maximum deductions and exemptions before filing the returns. Tax deductions refer to expenses that you can subtract from your total income, thus lowering the amount of income that is subject … Read more