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Time To Move Beyond Tax-Saving Limits And Focus On Smarter Tax Planning
Mint New Delhi
|April 30, 2025
A client once rushed to buy an insurance policy in March, only to realise later it didn't meet her needs or offer the best tax benefits.
ings and investment among the working class. But deduction limits haven't kept pace. The Section 80C limit has been ₹1.5 lakh since 2015; Section 80D for insurance premiums, ₹25,000 since 2016 (for those under 60); and housing loan interest under Section 24(b), ₹2 lakh since 2015.
These limits are low, especially when compared to inflation, rising costs, and growing financial responsibilities. While newer deductions like 80EEA (home loan), 80EEB (e-vehicle loan), and 80CCD(IB) (NPS self-contribution) have been added, the overall deduction values remain largely stagnant.
This story is from the April 30, 2025 edition of Mint New Delhi.
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