Under Section 80EEA, first-time home buyers investing in affordable homes in India enjoy additional income tax deductions on home loan interest payment. However, the benefits of Section 80EEA are applicable only if they buy an affordable property (worth Rs 45 lakh) with the help of a home loans. Section 80EEA of the Income Tax Act helps home buyers make up to Rs 1.50 lakh of their income in a year...
The government has implemented several profit-linked deductions and incentives to encourage investment in a variety of industries. Although they may pay regular taxes, taxpayers who qualify for such deductions or incentives may become zero-tax companies or pay marginal taxes. The government also depends on the steady and continuous flow of taxes, one of the primary sources of income, to pay for...