Budget 2023: Given the higher cost of medical expenditure and the need to encourage savings, Section 80D & 80TTA limits need to be increased. Budget 2023: Given the kind of medical expenses which an ...

Taxpayers can claim exemptions on interest income under Section 80TTA (up to Rs 10,000 for those under 60) and Section 80TTB (up to Rs 50,000 for senior citizens).

Union Budget 2023-24 should increase the tax exemption limit available for interest on savings bank account, say think tanks. Budget 2023: Section 80TTA provides deduction up to Rs 10,000 on the ...

What is Income Tax Section 80TTA: According to section 80TTA, you can claim a deduction of up to Rs. 10,000. Interest earned from fixed deposits, recurring deposits, RBI taxable bonds etc. are fully ...

It may be noted that Section 80TTA provides a deduction of up to Rs 10,000 on interest earned from savings bank deposits. (Image: Freepik) The forthcoming Union Budget for FY2024-25 is just around the ...

Savings account is the most traditional form of investment in banking and other form of financial system, as it provides guaranteed return and security. Since the government has always motivated ...

If you are filing your tax return, don’t forget to claim these deductions and exemptions to save tax on interest income. Most of you would know that you can claim a deduction of up to ₹10,000 on the ...

Individuals, Hindu Undivided Family (HUF) and pensioners who were expecting a hike in tax deduction under Sections 80TTA and 80TTB had to face disappointment on July 23, as Finance Minister Nirmala ...

Savings accounts are accounts which is held by every individual. The more the amount of savings, more the interest a person gets. Individual often have multiple saving accounts, so the interest ...

Since the launch of the new tax regime in Budget 2020, the government has made several efforts to make it more attractive. Over the years, it has added benefits like standard deductions, higher tax ...

Budget 2025: The upcoming Union Budget of 2025, to be presented by Finance Minister Nirmala Sitharaman on February 1, is eagerly anticipated by taxpayers nationwide. Of particular interest is the ...