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Government May Ease Tax Norms for Infrastructure Investors
January 26, 2018
The finance ministry is considering to increase the tax deduction limit from current Rs.2 lakh to Rs. 2.5 lakh for the investors of infrastructure projects. According to sources, they have already entered into the advanced stages of the discussion.
Currently, taxpayers are allowed to deduct up to Rs. 2 lakh on their taxable income for investments made in life insurance products, provident funds, and home loans, etc. under Section 80C, 80CC, and 80CCD of the Income Tax Act.
