No hike has been announced in the Section 80C deduction limit in Budget 2025. Deduction under Section 80C of the Income Tax ...
Among the primary expectations of taxpayers are the rationalization of income tax slab rates and an increase in the Section ...
The current income tax slabs introduced for FY 2024-25 were designed to alleviate the tax burden on average taxpayers.
This would make the tax system more favorable for the elderly, similar to the old regime, where the basic exemption limit for senior citizens was ₹3 lakh and ₹5 lakh for super senior citizens, ...
NRIs who opt for the new tax regime may get some benefits, but they are not eligible for the Section 87A rebate ...
Many taxpayers believe that the existing limit of Rs 1.5 lakh for investments in fixed deposits, ELSS, and housing loan ...
Taxpayers are keenly awaiting possible reductions in tax rates and increased exemption limits, amid ongoing high inflation ...
The anticipated tax reforms, from an increased standard deduction to higher limits for Section 80C, aim to provide much-needed relief amid rising costs of living. Additionally, a fairer tax ...