Union Budget 2019: Watch out for these revisions in Income tax slabs – Business Today

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  • By Taxmann
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  • Last Updated on 28 October, 2020
Chartered Accountant, Naveen Wadhwa, DGM, Taxmann.com said:
Many people also want Sitharaman to increase income tax deduction under Section 80C of the Income Tax Act. Naveen Wadhwa, DGM, Taxmann, suggest doubling the threshold to Rs 3 lakh apart from increasing the tax deduction limit for interest on housing loans. “By raising the limit of deduction under Section 80C and for interest on housing loan, the government would be able to channelise more savings in the economy and ensure housing for all under the Pradhan Mantri Awas Yojana,” he said.
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