TAX EXEMPTION LIMIT

  • Tax exemption limit under 80C raised to Rs 1.5 lakh July 10, 2014

    New Delhi: Seeking to boost household savings, the government on Thursday hiked the exemption limit for investments by individuals in financial instruments to Rs 1.5 lakh. Presently the investments and expenditures up to a combined limit of Rs 1 lakh get exemptions under Sections 80C, 80CC and 80CCC of the IncomeTax...
  • Axe the tax: Hike conveyance allowance in the Budget, urge taxpayers July 3, 2014

    Chennai: Anuradha Nair, a 27yearold social media manager navigates through Chennai's peakhour traffic everyday to get to work. Living 5 kilometres from her office, Anuradha spends at least Rs 3000 each month on fuel bills alone. "The cost used to be Rs 5 to 6 thousand a month because my...
  • Axe the tax: Citizens seek revision of tax exemption limit February 18, 2013

    New Delhi: In the run up to the Budget, CNNIBN's Axe the Tax campaign looks at how does one save for their retirement and family. But the question is whether the government is encouraging the Indian citizens to put away enough. Ten years ago, the savings exemption limit was set...
  • 'If I were FM, I would raise the tax exemption limit' March 12, 2012

    CNNIBN travels across the country to know what the country wants from the Finance Minister this budget. ...
  • IT exemption limit may be raised to Rs 3 lakh February 24, 2012

    New Delhi: Ahead of the Budget, a key Parliamentary panel scrutinising the Direct Taxes Code (DTC) is likely to recommend raising of income tax exemption limit to Rs 3 lakh and tax breaks on investments to Rs 2.5 lakh. "There is a consensus among the members that annual tax exemption limit...
  • Tax exemption limit may be hiked to Rs 2 lakh February 6, 2012

    New Delhi: The government is likely to provide some relief to individual income tax payers in the forthcoming Budget by raising the exemption limit to Rs 2 lakh, as provided in the Direct Taxes Code (DTC), and hiking the slabs for different tax brackets. The possibility of lowering the tax rates,...
  • Axe The Tax: 5 taxes that India wants axed February 26, 2011

    As India gets ready for Budget 2011, CNNIBN brings you five taxes that Indians do not want. ...
  • Axe the Tax: hike investment exemption cap February 23, 2011

    New Delhi: Tax experts always tell us to save, but is the government encouraging us to put away enough? Little Vivan was playing under the watchful gaze of his parents. But while Vivan was be happygolucky, his parents have other things on their minds how to save for their family,...