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 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, ...

New Delhi: The deadline for filing Income Tax Returns (ITR) is just around the corner September 15, 2025 and taxpayers are in a rush to organize documents and claim deductions. Among the many ways to ...

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 ...

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 ...

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 ...

Section 80TTB of the Income Tax Act outlines the tax benefits that senior citizens can avail of regarding the interest income they receive from deposits. The Finance Budget 2018 introduced several ...