Page 21 - Section 80c News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Story outline Abhishek Soni, CEO and co-founder, Tax2Win.in says, "This year we have observed that the Income Tax Department is sending one email to the taxpayers where there are huge deviations in the income tax return filed as compared to the form 16. In such cases, the Income Tax Department is sending the mail to confirm the amount of refund." On many occasions the Form 16 issued by the employer may not contain all deductions that are available to taxpayers under the existing law. If the taxpayer claims these deductions while filing ITR, then these are bound to differ from the ones mention...

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...

Given the skewed finances of the central government owing to the COVID-19 pandemic, there is no elbow room at all to provide any relief to the common taxpayer

Read more about What the lay citizen and the experts want the Budget to deliver on Feb 1 on Business Standard. Top of the wish list is an increase in deduction under Sections 80C, 80CCC and 80 CCD(1) from Rs 1.5 lakh to Rs 2.5 lakh

Jan 11 2021, 11:16 AM January 11 2021, 9:52 AM January 11 2021, 11:16 AM Finance Minister Nirmala Sitharaman has promised a “never before” like budget on Feb. 1. While taxpayers impacted by the Covid-19 pandemic and a slowdown in the job markets have high expectations, experts say the government’s hands may be tied due to the ongoing fiscal constraints. Finance Minister Nirmala Sitharaman has promised a “never before” like budget on Feb. 1. While taxpayers impacted by the Covid-19 pandemic and a slowdown in the job markets have high expectations, experts say the gover...