Category Tax

Section 80C is a section of the Income Tax Act, 1961 that allows individuals and Hindu Undivided Families (HUFs) to claim deductions on certain investments and expenses made during a financial year. Under this section, taxpayers can claim deductions up…

In India, home loan borrowers can claim tax exemptions on both the principal and interest components of the loan under the Income Tax Act of 1961. These exemptions are available under the following sections: It is important to note that…