As the name itself suggests, it is an exemption for allowance/assistance received by the employee from his employer for traveling on leave. Though it sounds simple, many factors need to be kept in mind before planning the travel for the purpose of claiming a Leave...
Taking a home loan can help you save tax as per the provisions of the Income Tax Act, 1961. Even more so after the announcements made during the latest financial budget 2020: Tax benefits on home loans remain unchanged, though the timeline for availing loans for...
Section 80EEA of the Income Tax Act is a deduction that taxpayers can claim on the interest paid on home loans. It was introduced in the Union Budget of 2019 to relieve middle-class taxpayers who have taken home loans. In this article, we will discuss the key aspects...
Any individual who has applied for a loan for higher education can avail of the benefits of tax savings provided by Section 80E of the Income Tax Act, of 1961. Even if an individual has availed of the maximum available deduction of INR. 1,50,000 under Section 80C,...
Section 80U of the Income Tax Act, of 1961 includes provisions for tax deduction benefits to individual taxpayers suffering from a disability. Generally, a taxpayer can claim a deduction under Section 80U when filing an Income Tax Return. However, it is important to...
