WebApr 11, 2024 · For fiscal 2024 24 standard deduction has been included in the new income tax regime. however, common exemptions such as section 80c, 80d, 80tta, housing loan benefits are not available. what is the income tax slab for 2024 to 2024? under the regular income tax regime up to rs 2,50,000 income nil tax rate. WebDec 26, 2024 · 1) Tax saving with NPS under Section 80CCD (1B): Taxpayers can save additional tax by investing up to ₹ 50,000 in NPS. This is over and above the benefit, they can claim on contributions under Section 80c. They also have the option of utilizing NPS for the ₹ 1.5 lakh limit of Section 80c.
Income tax Deductions FY 2024-23: Useful for Tax Planning
WebOct 19, 2024 · The IRS has released higher federal tax brackets for 2024 to adjust for inflation. The standard deduction is increasing to $27,700 for married couples filing … WebApr 4, 2024 · Section 80C allows deductions for principal payments made on home loans up to a limit of Rs. 1.5 lakh per year. 2. Tuition fees for children Section 80C allows for deductions for up to two children's full-time tuition fees, up to a maximum of Rs. 1.5 lakh per year. 3. Sukanya Samriddhi Yojana Account how to repair scratched wooden furniture
Section 80C, 80CC - Deductions: Income Tax Deductions under Chapte…
WebWhere deduction is claimed under this section, deduction in relation to same amount cannot be claimed under section 80C. 14. section 80CCE provides that the aggregate amount of … WebFeb 1, 2024 · Union Budget 2024 Today LIVE: Limit of Rs 3 lakh for tax exemption on leave encashment Increased to Rs 25 lakh. Encashment of earned leave up to 10 months of average salary, at the time of retirement in case of an employee (other than an employee of the Central Government or State Government), is exempt under sub-clause (ii) of clause … WebApr 10, 2024 · Old Tax Regime. The old tax regime offers various exemptions and tax deductions which help reduce the tax burden on individuals. Some deductions are given … how to repair scratched veneer furniture