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The CII saw an increase of 105% between 2005 and 2014 whereas the 80C limit was increased by a mere 50%.

Accountants should alert clients of the need to keep receipts to claim using other methods, says IPA. mtc

Budget 2021 and You: Will the finance minister play genie to the taxpayer? Here is compilation of taxpayer’s wish list from Budget 2021 across segments Moneycontrol PF Team February 01, 2021 / 08:11 AM IST It is time for Budget 2021. Over this past month, Moneycontrol spoke to a cross-section of industry experts for their take on the much-needed measures that would benefit individual taxpayers immensely. Like every year, reducing the tax rates tops the wish list of tax payers. But this year, people have suffered income loss and job losses as ...

Budget 2021: Life insurers seek separate tax carve-out for products to boost penetration The industry feels this will allow policyholders to diversify their investments into various life insurance products to meet their financial goals while availing of tax benefits. Currently, life insurance premium is eligible for tax exemption under Section 80C, which has a limit of Rs 1.5 lakh annually, but also clubs other investment options such as PPF, EPF, and NSC, among others. January 26, 2021 / 10:56 AM IST The insurance industry is seeking tax incentives from the government in Budget 2021 to m...

5 tax-saving investments for you The limit for investing in tax-saving instruments is Rs 1.5 lakh for income earned in 2020-21. Note to readers : Every year, our last date to plan for our income-taxes is March 31. Yet, despite knowing this, we procrastinate and postpone our income tax planning. But this financial year (2020-21) has been tough due to Covid-19 and many of us lost our incomes and jobs. While we hope for better times ahead for our readers, now is a good time to plan our tax-saving investments if we haven’t done it already. Our first story answered five crucial income tax planni...