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India On Media |
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| Budget
News |
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| Budget 2014: Income Tax Changes |
| Budget 2014: Income Tax Changes Can Save You up to Rs 36,000
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| INDIA
, 10-July-2014
7:35:4 AM |
| Finance Minister Arun Jaitley's Budget announcements will lead to big savings for income tax payers. Mr Jaitley on Thursday hiked the basic exemption limit on income taxes from Rs. 2 lakh to Rs. 2.50 lakh.
Mr Jaitley also hiked the cap on long-term investments under Section 80C of the Income Tax Act from Rs. 1 lakh to Rs. 1.50 lakh. The Finance Minister also raised the tax-free cap on interest paid on housing loan from Rs. 1.5 lakh to Rs. 2 lakh
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