Tag Archives: #TaxSavingsOptions

Difference between 80C vs 80CCD: Why is the difference between 80C and 80CCD in the Income Tax Act?

Difference between 80C vs 80CCD

Difference between 80C vs 80CC Difference between 80C vs 80CCD: Section 80C and 80CCD of the Income Tax Act, 1961 offer tax deductions to individuals on specific investments in financial instruments. Under Section 80C, individuals can claim a deduction of up to Rs. 1.5 lakh for investments in various financial instruments such as PPF, ELSS,… Read More »

What is the amount of conveyance allowance tax limit that is exempt from tax?

Conveyance allowance tax limit

Conveyance allowance tax limit Introduction In most organizations, employees receive various allowances in addition to their basic salary. One such common allowance is the Conveyance Allowance, which is provided to employees to cover commuting expenses between home and workplace. However, a key aspect to consider is the tax exemption on conveyance allowance. Understanding the conveyance… Read More »