After slashing income tax rates for individuals on condition that they give up exemptions and deductions, Finance Minister Nirmala Sitharaman on Saturday said the government intends to remove all I-T exemptions in the long run.
There is a huge expectation from the new Finance Minister of an increase in the basic exemption limit from Rs 2.50 lakh to Rs 5 lakh.
Health insurance is an excellent tax-saving instrument that can help you save taxes. Also, if you have a life insurance plan, you are eligible to enjoy tax-deductions. Having said that, tax-saving instruments aren't limited to insurance only.
New Delhi: Finance minister Arun Jaitley, who is all set to present his full year budget on Saturday, has a tough task in hand in order to make India the best place to do business,
New delhi, Feb 28 : The Finance Minister Pranab Mukherjee on Monday raised the threshold Income Tax exemption limit from the current Rs 1.6 lakh to Rs 1.8 lakh.Exemption limit to senior citizens above 80
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