Paying taxes is a duty of every citizen. However, there are legal and ethical ways to reduce your tax liability using permitted deductions and exemptions. One such option is to save income tax through FDs (Fixed Deposits) investment to minimize your taxable income....
Introduction The Income Tax Act is a complex set of laws and regulations that can be difficult for the average taxpayer to navigate. However, understanding the various provisions of the Income Tax Act is crucial for anyone looking to save money on their taxes. One...
Section 80EE of the Income Tax Act of India was introduced in 2013 to encourage individuals to invest in their own homes. The deduction under Section 80EE was introduced for first-time home buyers who are looking to purchase a home. Sec 80EE allows individuals to...
On Wednesday (01-Feb-2023), Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023, marking the fifth budget presentation under the Modi government. As the final full-fledged budget before the upcoming general elections, Sitharaman expressed...
Are you a salaried employee in India who pays rent to family members for your accommodation? Are you wondering if you can claim an HRA exemption on the rent paid to family members? Under the Income Tax Act of India, the rent paid by an individual to their family...
