Tax saving other than 80c in india

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August undefined, 2024

Web22 hours ago · ELSS mutual fund explained. An equity-linked savings plan (ELSS) is a category of mutual fund wherein at least 80% of the corpus is invested in equity securities. Under Section 80C of the Income Tax Act, you can get a tax exemption up to Rs. 1.5 lakh on your ELSS investments. ELSS has the shortest lock-in period, which is three years, … WebAll About Tax Saving Investments Other Than 80C. Section 80C is the most well-known provision of the Income Tax Act of 1961, under which rebate of up to Rs. 1.5 Lakh is …

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WebSection 80C tax saving is one of the most effective ways for taxpayers to reduce their taxable income and save big on paying income tax. Although other sections allow tax-saving investments, tax ... Web8 rows · Dec 21, 2024 · Tax saving investment options other than 80c include donations, interest earnings on ... cisco air-pwrinj-60-pmk

Income Tax Deductions and Allowances - A Detailed Guide

WebNov 16, 2024 · Section 80C is one of the most common tax-saving investments that most Indians are benefitting from. It can be used by salaried/ self-employed individuals, HUFs and NRIs, but can’t be availed by corporates, AOPs, LLPs. Section 80C also includes subsections 80CCC, 80CCD (1), 80CCD (1b), 80CCD (2). WebHow Does Tax Saving Calculators Work? The tax saving calculator helps you to calculate tax-savings, after making use of Section 80C of the Income Tax Act, 1961. Let us … WebApr 18, 2024 · Section 80C of the Income Tax Act 1961 (“IT Act”) is one of the most recognised sections which allows both individuals and Hindu Undivided Family (“HUFs”) to claim a cumulative deduction of up to Rs. 150,000 p.a. for certain specified investments made by them during a particular financial year. Section 80C provides deduction in … diamond power infra ltd share price

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Tax Saving Investments Under 80c IIFL Knowledge Center

WebJan 30, 2024 · It is to be noted that the total amount of deduction admissible under 80C, 80CCC AND 80CCD (1) is Rs 1.5 lakh. However, there are some other options will can help you save tax. 1. Section 80D. 1/10. Under section 80D, you can claim deduction up to Rs 25,000 under Health insurance premiums. WebJan 17, 2024 · Coming to tax benefit, repayment of principal amount in a home-loan qualifies for deduction under section 80C, which has an upper limit of Rs 1.50 lakh per annum. Since the same section - 80C, accounts a number of other investments including PF, PPF and life insurance policies etc, it becomes impossible for a buyer to take advantage of any benefit … cisco allow local lan access when using vpnWeb1 day ago · Section 80EEB: Deduction in respect of interest up to Rs 1.5 lakh on loan taken for purchase of electric vehicle.. Section 80TTA: Deductions in respect of interest on savings bank accounts up to Rs 10,000 in case of assessees other than Resident senior citizens.. Section 80G: Donations to certain funds, charitable institutions, etc. Depending on the … cisco am10 onboard software download

"WebApr 11, 2024 · Moreover, the minimum investment should be ₹1000, and the maximum should be ₹30 lakh. The amount you invest in SCSS is eligible for a tax deduction of ₹1.5 lakh under Section 80C. Now, there is a good part and a bad part about the tax imposed on the interest accrued. " - Tax saving other than 80c in india

Tax saving other than 80c in india

10 smart tax saving options other than 80C. Save your money!

WebThe interest income earned on both NSC and tax-saving fixed deposits is taxable as per the tax bracket of the investors. However, the interest earned on NSC is not paid to the … WebThe maximum amount that can be refunded is Rs. 40,000 or the actual amount that was spent, whichever is less. Moreover, elderly or very senior citizens may deduct up to Rs. 100,000. In conclusion ...

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WebApr 11, 2024 · Section 80C, 80CCC, and 80CCD provide tax benefits to pensioners on payments made towards provident funds, life insurance premiums, national savings certificates, pension schemes of the central ... WebApr 4, 2024 · 1] National Pension Scheme (NPS): Under Section 80CCD, you can invest an additional Rs 50,000 in this scheme apart from the contribution of Rs 150,000 available under Section 80C.In short, you can claim a total deduction of up to Rs 200,000 in each financial year by investing in NPS. 2] Interest payment of home loan: The payment of …

WebJan 31, 2024 · The aggregate amount of deduction admissible under 80C, 80CCC AND 80CCD (1) is restricted to maximum limit of Rs 1.5 lakh. However, there are 10 other … WebJan 30, 2024 · It is to be noted that the total amount of deduction admissible under 80C, 80CCC AND 80CCD (1) is Rs 1.5 lakh. However, there are some other options will can help …

WebJul 26, 2024 · The aggregate amount of deduction admissible under 80C, 80CCC AND 80CCD (1) is restricted to maximum limit of Rs 1.5 lakh. However, there are 10 other options, which if used appropriately, can help you save taxes most used tax-saving section --80C. These other sections will provide you the window for additional tax-saving exemptions … WebApr 4, 2024 · 1. Additional tax saving for NPS investments under Section 80CCD (1B) Every year, you can claim a deduction upto Rs 1.5 lakh under Section 80C by contributing to the …

WebApr 10, 2024 · 3) If you have just 80C deduction of Rs 1.5 lakh then new tax regime might be better as back-of-the-envelope calculations show that for an individual who just avail a …

WebApr 10, 2024 · 3) If you have just 80C deduction of Rs 1.5 lakh then new tax regime might be better as back-of-the-envelope calculations show that for an individual who just avail a deduction of Rs 1.5 lakh ... diamond power infrastructure ltd newsWeb1 day ago · Section 80EEB: Deduction in respect of interest up to Rs 1.5 lakh on loan taken for purchase of electric vehicle.. Section 80TTA: Deductions in respect of interest on … diamond power germany gmbhWebApr 10, 2024 · To further illustrate the point, let us assume that one with income of Rs.15.5 Lakhs, has a combined deductions of Rs.5.25 Lakhs (across limits of 80C, 80D with senior citizen parents, home loan interest repayment, NPS & standard deduction), then the tax outgo under the Old TR is Rs. 1,24,800, which is Rs. 31,200 less than Rs.1,56,000 under … diamond power infrastructureWebApr 6, 2024 · There are five ways to get an income tax deduction on your home loan (s). The principal amount repaid in the current financial year is included under section 80C, offering a deduction up to Rs. 1,50,000. The interest portion offers a deduction up to Rs. 2,00,000 separately under section 24. cisco amp forensic snapshotWeb18 hours ago · Tax on FD: Fixed deposits or FD is considered one of the safest investment options and some banks provide a facility of tax saving FDs which comes with a dual advantage of saving tax as well as building wealth for the future. If you have also invested money in tax-saving FD, you will be able to claim a deduction under section 80C of up to … cisco amp high memory usageWebOct 19, 2024 · Public Provident Fund (PPF) PPF is a great tax saving option as it qualifies for deduction upto Rs 1.5 Lakhs per annum under section 80C of the Income tax act. Additionally, it has provided decent returns in the 7% – 9% range. Since PPF is backed by the government, it is one of the safest investment cum tax saving options in India. cisco amp high cpu usageWebMar 31, 2024 · In case an individual has opted for the old tax regime, one can claim deductions of up to Rs 1.5 lakh under Section 80C under tax provisions,” says Sudhakar … diamond power infrastructure ltd share price