The Savings Bank Account operates as a virtual piggy bank. You accrue interest, which then incurs taxation under the category of ‘Income from Other Sources.’ However, numerous individuals remain ...

It may be noted that Section 80TTA provides a deduction of up to Rs 10,000 on interest earned from savings bank deposits. (Image: Freepik) The forthcoming Union Budget for FY2024-25 is just around the ...

The current situation demands increasing the exemption limit for savings accounts from Rs 10,000 to Rs 20,000 and for senior citizens' FD interest up to Rs 1 lakh. Experts say big changes may be ...

Tax deduction under Sections 80TTA and 80TTB remains unchanged. Individuals, Hindu Undivided Family (HUF) and pensioners who were expecting a hike in tax deduction under Sections 80TTA and 80TTB had ...

The tax break is available only where the loan is taken to fund the higher education of wife or children or a student for whom you are a legal guardian ...

Budget 2025: The upcoming Union Budget of 2025, to be presented by Finance Minister Nirmala Sitharaman on February 1, is eagerly anticipated by taxpayers nationwide. Of particular interest is the ...

Budget 2024 income tax expectations: The government may raise the tax-deductible amount on bank interest to Rs 25,000. A suggestion on this was put forward by banks during a recent meeting with key ...

The government is reportedly considering a proposal to increase the tax-deductible limit on interest income from savings accounts to Rs 25,000. With the Budget 2024 date set for July 23, the proposal, ...

Budget 2025: Senior citizens as well as younger individuals want tax deduction on fixed and savings deposit interest to be hiked Individual tax-payers, particularly senior citizens, are hoping that ...