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17 Feb 2023Both husband and wife can contribute towards repayment of the housing loan, the deductions can be claimed by both independently
2 min read22 Mar 2020Not everyone will benefit from tax rebate on up to ₹5 lakh unlike in the case of tax exemption on income slabAre you wondering whether you will get the benefit or not? Here is the math
2 min read9 Feb 2019While those with taxable incomes up to ₹5 lakh will go away the happiest from the interim budget, there is a little bit of good news for everyoneThe increase in standard deduction to ₹50,000 for the salaried class will help individuals save more tax
5 min read4 Feb 2019Govt reaches out to farmers, unorganized workers, middle-classGoyal reduced the tax burden on the middle class by announcing a tax rebate on income of up to Rs. 5 lakh for individual taxpayers
3 min read2 Feb 2019The proposal will benefit 3 crore taxpayers and the government will have to forego revenue to the tune of over Rs. 18,000 croreIndia Ratings' peer Crisil Ratings said the "tax sops by themselves are not significant"
1 min read1 Feb 2019A tax exemption is when the income you earn does not attract taxThe finance minister has announced a rebate and not an exemption
1 min read1 Feb 2019While calculating tax liability, exempt incomes are the first components that get reduced from your salary or other incomeYou can claim a deduction by making investments in specified products or by incurring certain expenses under different income tax sections
2 min read24 Jan 2019Exemption limits on donation can vary depending on the institution and the Section under which it is registered
2 min read7 Nov 2018The State Council says the announced tax cuts would reduce firms' costs by more than 45 billion this year
1 min read30 Aug 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared