Tag Archives: #TaxSavingsOptions

Q204 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 80CCD Website Link: 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… Read More »

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

Conveyance allowance tax limit

Conveyance allowance tax limit Conveyance allowance tax limit, As of the current knowledge cutoff date of September 2021, it is worth noting that conveyance allowance up to a maximum of Rs. 1,600 per month is exempt from tax in India. This means that employees can receive a conveyance allowance of up to Rs. 1,600 per month… Read More »