Union Budget: Will Finance Minister Nirmala Sitharaman increase the limit of Section 80C? These people get the benefit.
The first budget of the NDA government formed for the third consecutive time under the leadership of Narendra Modi is going to be presented soon. This will be the first full budget of Modi Government 3.0. The first full budget of the third term of the Modi government can be presented by Finance Minister Nirmala Sitharaman on 23 or 24 July 2024. There can be many types of announcements in it.
People are also expecting an increase in the limit of Section 80C in the first full budget of the third term of the Modi government. The central government has not increased the limit of Section 80C of the Income Tax Act since 2014. During this period, the income of the people has increased and the expenditure has also increased significantly. Increasing the limit of 80C provides a lot of relief to middle-class people.
People get the benefit of Section 80C only in the old regime of income tax. Till now the limit of 80C is only Rs. 1.5 lakh per annum. Now people are expecting that the limit will be increased.
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