Salaried individuals residing in rented house are entitled to tax exemption on House Rent Allowance (HRA) under Section 10(13A) of the Income Tax Act, 1961. But are you aware of the fact that you, as a salaried individual can take advantage of this exemption while staying at your parents’ home. Read this blog, to know more! Provisions […]
In order to provide relief and lessen the burden on small taxpayers, the Government had announced the tax rebate scheme by introducing Section 87A in the Income Tax Act. Introduction of Section 87A Section 87A was introduced in Income Tax Act through the Finance Act, 2003. As per the Income Tax Act, any individual being […]