TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 80C: Tax Deduction Limit Raised to 1.5 Lakh for Insurance, Annuities, Provident Fund Contributions.</h1> Clause 27 of the Finance (No. 2) Bill, 2014 proposes an amendment to section 80C of the Income-tax Act. This amendment increases the deduction limit for life insurance premiums, deferred annuities, provident fund contributions, and certain equity shares or debentures from one lakh rupees to one hundred and fifty thousand rupees. This change will be effective from April 1, 2015, and will apply to the assessment year 2015-16 and subsequent years. The amendment aims to provide greater tax relief to individuals and Hindu undivided families by allowing higher deductions from their total income.
TaxTMI 
TaxTMI 
