Sections 80C

Income Tax changes: Rs 17,500 savings, tax exemption till Rs 7.75 lakh. Here’s what taxpayers would get under New Tax Regime

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Income Tax changes: Rs 17,500 savings, tax exemption till Rs 7.75 lakh. Here’s what taxpayers would get under New Tax Regime

Union Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday brought in some relief for the taxpayers under the New Tax Regime. After increasing the Standard Deduction limit from Rs 50,000 to Rs 75,000, FM Sitharaman revised the tax slabs for the New Tax regime. She said salaried employee will now stand up to save Rs … Read more

Income Tax: Comprehensive guide to claiming deduction for individuals – Section 80C and beyond

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Income Tax: Comprehensive guide to claiming deduction for individuals – Section 80C and beyond

As tax costs are eating into the earnings of every household, there is always a search to reduce the tax incidence within the four corners of the law.  The Income-tax Act (‘the Act’) provides certain deductions from taxable income, the policies for which are based upon larger socio-economic parameters.  With the new tax regime seeking … Read more