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- Posted:4th February, 2025
- Updated:4th February, 2025
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The maximum House Rent Allowance (HRA) exemption you can claim is 50% of your basic salary, provided you live in a metro city.
Read More - Posted:4th February, 2025
- Updated:4th February, 2025
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https://www.shriramfinance.in/financial-faqs-calculators - 568
As per the Union Budget (AY2024-25) the new simplified tax regime can benefit taxpayers who have limited deductions and do not invest much in tax-saving schemes.
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- Updated:4th February, 2025
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https://www.shriramfinance.in/financial-faqs-calculators - 612
Salaried Individuals have more flexibility when it comes to changing tax regimes every year as compared to professionals.
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- Updated:4th February, 2025
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https://www.shriramfinance.in/financial-faqs-calculators - 592
The lock-in period for Equity Linked Savings Schemes (ELSS) is 3 years from the date of investment. This lock-in mandates that investors cannot redeem or withdraw their ELSS investment for at least 3 years after investing.
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- Updated:4th February, 2025
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https://www.shriramfinance.in/financial-faqs-calculators - 2028
The income tax rate on a monthly salary of ₹60,000 will depend on the income tax regime chosen by the individual.
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https://www.shriramfinance.in/financial-faqs-calculators - 2418
In Budget 2023, the finance minister introduced a new simplified tax regime under which taxpayers with an annual income of up to ₹7 lakhs will not have to pay any tax.
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- Updated:4th February, 2025
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https://www.shriramfinance.in/financial-faqs-calculators - 568
Equity-linked Savings Schemes (ELSS) have a mandatory lock-in period of 3 years. Investments withdrawn before 3 years face penalties.
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