The Finance Minister, in the Budget 2024 speech, announced that the tax deduction limit under Section 80C will remain unchanged. For the current fiscal year 2023-24 and the upcoming fiscal year ...

Finding your way through the complexities of the Indian tax system can be a difficult task. However, the Income Tax Act provides some provisions to reduce tax liability, and one of the most popular ...

Ahead of Wednesday’s Union Budget presentation, Agra-based Punit Chahar has a special request. He wants the finance minister to increase the deduction limit under section 80C of the Income Tax (I-T) ...

Home loan tax benefits explained! Learn how Sections 80C & 24(b) help Indian homeowners save up to Rs 3.5 lakh under the old ...

I am a retired senior citizen. I have short-term capital gains of around ₹5 lakh till now on listed shares. My interest income is expected to be around ₹2 lakhs for the year. I have fully ...

Budget 2024: One common ask every year is that the limit for deductions under Section 80C should be hiked from Rs 1.5 lakh. This limit was last revised in the 2014-2015 Budget from Rs 1 lakh. Section ...

Understanding the nuances of tax deductions can be a daunting task for many. But many taxpayers in India make a popular choice—the tax deduction they avail is the 80C deduction. This section of the ...

Section 80C deduction allows for the reduction of taxable income for individuals and Hindu Undivided Families (HUFs). In total, the maximum deduction that can be claimed under Section 80C, 80CCC, and ...

As the Union Budget 2025 nears, taxpayers are eagerly awaiting possible changes in the income tax regime. The main focus is the long-standing demand for raising the deduction limit under Section 80C ...

Legitimately reducing tax liability is every taxpayer’s dream. Planning investments in tax saving schemes can be particularly useful in reducing taxable income. One of the ways to enjoy tax benefits ...

Please note that the benefit of section 80C is available only under the old tax regime. You can adopt no strategy to save or reduce this tax. Yes, you can set off any short-term loss you may incur ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Section 80C of the Income Tax Act, ...