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As per the provisions of Section 80D of the Income Tax Act, 1961, an individual is allowed an aggregate deduction of up to ₹50,000 per annum towards following payments made by him, on the health of his senior citizen parents (aged 60 years or more)
Missed claiming tax deductions in investment declarations? Do it while filing returns So long as you make your tax-saving investments or incur certain expenses within March 31 (July 31 this year), you are still allowed tax deductions January 10, 2021 / 07:29 AM IST Despite multiple reminders from employers, many tend to delay submitting proofs of tax-saver investments, resulting in higher tax deduction from their salary during January, February and March. Some get overlooked due to inadequate awareness of the range of tax reliefs available. “While it is important to declare all tax savi...
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