Tax Deduction

  • Axe the Tax: Increase tax deduction under 80 C from Rs 1 lakh to 3 lakh 04-07-2014 03:56 PM

    Mathew and Vineetha George are IT professionals with two young children and the need to save for their future. The income and cost of living has risen over the years but the exemption cap of Rs one lakh on savings has stayed unchanged since 2007. A rise in this cap...
  • Kingfisher Airlines owes Rs 269 cr income tax: Govt 18-05-2012 02:23 PM

    New Delhi: Vijay Mallya-promoted Kingfisher Airlines owes Rs 269.06 crore income tax and I-T Department has initiated penalty and prosecution proceedings against the private carrier, Government informed the Lok Sabha on Friday. Kingfisher Airlines was found to have deducted tax at source (TDS) on salary payments but had not deposited...
  • Home loans may get Rs 3 lakh tax deduction 13-02-2012 08:01 AM

    New Delhi: In a bid to boost housing sector credit, the government is contemplating enhancing income tax exemption for up to Rs 3 lakh paid as interest on housing loans in a year, from the existing limit of Rs 1.5 lakh. The government is considering raising the tax deduction limit...
  • Taxman hopes to score in IPL, sends notice to BCCI 16-05-2008 04:40 PM

    New Delhi: As he led Delhi Daredevils to a dominating win against Mumbai Indians with a blistering 73, Virender Sehwag on Friday said that he is in prime form and it is his team's strategy that either he or Mahela Jayawaredene stays at the crease at least till the 15th...