Tax Exemption: Latest News and Updates, Top Stories, Videos, Photos About Tax Exemption

Taxpayers, Salaried Class May Get Relief In Income Tax Under New Tax Regime In Budget 2024: Report

Taxpayers can get some good news soon as the BJP-led Modi government can announce some relaxation in income tax under the new income tax regime when it presents an interim Budget next year just ahead of the Lok Sabha elections 2024, ...

GST Council Exempts ENA Potable Alcohol from Tax: Relief to Industry, says CIABC

The GST Council's decision to exempt ENA potable alcohol for human consumption from tax is a relief to the industry as it will bring stability, CIABC said on Saturday....

Amended Finance Bill Lays Out Minimum Equity Criterion To Tax ULIPs With Premium Over Rs. 2.5 Lakh

As per the modified Finance Bill 2021 passed by the parliament on March 23, minimum equity holding norms have been put in place in respect of ULIPs carrying high premiums. The initial Finance Bill laid out that ULIPs with annual premium ...

10 Pointers To Note To Successfully Claim Tax Exemption On HRA

HRA claim against the rent paid to the landlord or house owner requires the taxpayer to note of few points else the claim may go rejected as in the case of a salaried employee whose HRA tax exemption claim was rejected ...

Here's How the Change in Income Tax Impacts You

The hopes of the middle class have largely been dashed as the income tax slab rates remain unchanged. Nonetheless as a much awaited relief to young earners and ahead of the election due May, the government has declared complete rebate in ...

How To Claim Income Tax Exemption On LTA?

To claim income tax exemption on leave travel allowance or leave travel concession (LTC), you need to be familiar with the eligibility criteria. This component (LTA) can be most likely be part of your overall CTC but cannot be treated as ...

Tax Exemption On Motor Insurance: All You Should Know

It may come as a surprise but like medical insurance you can also make a claim for insurance paid towards securing your vehicle, but here there is a catch and that is all makes the difference. Not just any motor insurance ...

What Is The Difference Between Tax Deduction And Tax Exemption?

Tax deduction and tax exemption in similarity provide relief to a taxpayer's tax outgo by reducing the total tax amount payable. But these are two very different terms that needs clear understanding for better tax planning: ...

Income Tax Exemption Limit May Be Increased To Rs. 3 Lakhs Or More From Rs. 2.5 Lakhs

To reduce the taxpayers' burden, BJP-led government in its last regular budget 2018-19 is considering an increase in tax exemption limit for individuals from Rs. 2.5 lakh to Rs. 3 lakh or more. At the same time, the finance ministry ...

Can You Claim Tax Exemption On HRA Without Landlord's PAN?

While gearing up to fill in our investment proof submission forms, we look for ways to reduce our TDS burden. There are several cases where the landlord refuses to give you his PAN to avoid tax. If you are a salaried ...

Pension Products Offered By Life Insurers May See Some Re-structuring

Insurance Regulatory and Development Authority of India (IRDAI) at its annual review meet in Hyderabad raised concerns over the low sales of its pension products. With little scope for innovation and tough regime, the products are likely to see some re-structuring. ...

A Look At Tax Incentives To Home Loan Borrowers Which Taxpayers Can Claim?

Home Loan Borrowers are provided few of the tax incentives as either tax break or exemption for serving such a large ticket-size loan. After the Union Budget announcement on February 1, 2017, few of the changes were effected, knowing which come ...

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