Taxpayers express their primary expectation for an increase in health insurance premium deductions to Rs 50,000, given the surge in premiums post-Covid, benefiting individuals and families.
Minister Nirmala Sitharaman Prepares Union Budget 2024-25
Analysts emphasize the necessity of raising the Section 80C limit to Rs 3 lakh, aligning with the significant income growth over the past decade and reducing tax burdens on individuals.
Addressing Housing Challenges
Taxpayers advocate for an increase in the home loan interest deduction limit from Rs 2 lakh to Rs 3 lakh, citing the escalating cost of houses and the impact of increased interest rates.