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income tax saving tips

ITR Filing Tips: 7 tax saving options other than mentioned in Section 80C that can help you save lakhs

ITR Filing Tips: 7 tax saving options other than mentioned in Section 80C that can help you save lakhs

Mon, Jul 22, 2024

Tax Saving Strategy: Contributions to an NPS Tier I account, health insurance premiums, and home loan interest are some of the tax saving options other than those mentioned in Section 80C of the Income Tax Act, 1961.

Income Tax Season: 6 tax saving options for senior citizens in 2024

Income Tax Season: 6 tax saving options for senior citizens in 2024

Wed, Jul 17, 2024

ITR Filing: Senior citizens also have to pay income tax based on the income bracket they fall in. However, there are a number of investment schemes such as NPS, NSC, ELSS mutual funds, Senior Citizen Savings Scheme, etc, which offer tax benefits under Section 80C of the Income Tax Act, 1961.

Old vs New Tax Regime: Which tax regime you should choose on salaries above Rs 10 lakh, Rs 15 lakh, and Rs 20 lakh? Get expert calculations

Old vs New Tax Regime: Which tax regime you should choose on salaries above Rs 10 lakh, Rs 15 lakh, and Rs 20 lakh? Get expert calculations

Sat, Jul 13, 2024

Income Tax Season: The last date to file the income tax return (ITR) is July 31, 2024. There are a number of taxpayers in salary brackets of Rs 10 lakh and above who are in confusion whether to choose the old or the new tax regime. Through expert calculations, know which of the options you may chose to get maximum tax benefits.

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Investment schemes that provide monthly income and Section 80C tax benefits

Investment schemes that provide monthly income and Section 80C tax benefits

Mon, Jul 08, 2024

Income options with Section 80C tax benefits: Contributions up to Rs 1.50 lakh in a financial year in a Tier-I account are tax-exempt under Section 80CCE. Not just that, tax deductions up to Rs 50,000 under Section 80 CCD(1B) over and above the overall ceiling of Rs 1.50 lakh.

Income Tax Season: How you can save tax by depositing money in your spouse's account; know the rule

Income Tax Season: How you can save tax by depositing money in your spouse's account; know the rule

Thu, Jul 04, 2024

Income Tax Saving Tips: For taxpayers under the old tax regime, there are a number of ways to save tax. One of the methods is known as clubbing. Under clubbing provision, one can save tax making investment in your wife's name or depositing money in her account. You can save substantial tax through this procedure.

Income Tax Season: Can you save income tax by paying rent to your spouse? Know how to save up to Rs 1,80,000 tax through it

Income Tax Season: Can you save income tax by paying rent to your spouse? Know how to save up to Rs 1,80,000 tax through it

Wed, Jul 03, 2024

Income tax saving tips: Employed taxpayers who want to take tax benefits of House Rent Allowance can employ this tactic to save their income tax.

Income tax saving tips: 5 ways to save tax you should know

Income tax saving tips: 5 ways to save tax you should know

Sun, May 12, 2024

Many people don't know much about tax saving tips and due to lack of knowledge, they end up paying more tax which they could save from some better tax saving tips.

Tax Saving Strategy: How to pay 0 income tax on Rs 12 lakh annual salary? Know through expert calculation

Tax Saving Strategy: How to pay 0 income tax on Rs 12 lakh annual salary? Know through expert calculation

Tue, Mar 26, 2024

The last date to invest to save income tax is March 31, 2024. From April 1, the new financial year will start and investments you make from that date will be counted in the next financial year's tax. A salaried individual pays tax on salary, interest, dividend, income from rent, etc. If you are from the old tax regime, you get tax rebate of up to Rs 1.50 lakh in a financial year under Section 80C of the Income Tax Act. But, when you reach a higher income bracket, you sometimes fall short of tax saving options. However, even if your annual gross salary is Rs 12 lakh, you may end up paying zero income tax. Through expert calculation, know how it is possible.

Want to save tax on earnings from FD? Know how Form 15G and Form 15H can help you

Want to save tax on earnings from FD? Know how Form 15G and Form 15H can help you

Thu, Mar 21, 2024

Income Tax Saving on FD: Fixed Deposits (FDs) provide an investor guaranteed returns in the form of interest earned on deposits. One can also get tax exemption on deposits of up to Rs 1.50 lakh under Section 80C of the Income Tax Act on FDs of tenures of five years and above. The income an investor gets from FDs is tax free up to a certain limit, as per income tax rules. But over it, one needs to pay TDS. However, if one submits Form 15G and Form 15H under certain conditions, they can save their TDS from being cut. Know how-

Tax Saving Tips: 5 Last-Minute Strategies for Tax-Efficient Investments

Tax Saving Tips: 5 Last-Minute Strategies for Tax-Efficient Investments

Sat, Mar 16, 2024

March 31st is looming, and it's time to optimise your tax strategy! Join Vainavi Mahendra as she breaks down 5 essential factors for tax-efficient investing. From understanding the tax landscape to exploring investment options like ELSS funds and SIPs, learn how to minimise tax liabilities and maximise returns.

Tax Saving Tips: 4 Common Tax-Saving Mistakes You Must Avoid

Tax Saving Tips: 4 Common Tax-Saving Mistakes You Must Avoid

Fri, Mar 08, 2024

Taxes got you stressed? Don't fall victim to these common mistakes! In this video, we break down 4 crucial things to avoid before filing your taxes. Learn how to maximise deductions, avoid hidden fees, and make smart investment choices. Watch now and save yourself a financial headache!

Income Tax Saving Tips: 5 lesser-known ways to save income tax

Income Tax Saving Tips: 5 lesser-known ways to save income tax

Mon, Jan 22, 2024

The old tax regime gives you the benefit of saving tax under Section 80C and many other sections of the Income Tax Act. Taxpayers use these options to save their tax considerably. But, today we will tell you about 5 methods which are not very popular but may help you save tax to a great extent.

Tax Saving Tips: Salary Rs 12 lakh per annum, income tax 0. How is it possible? Know expert calculation

Tax Saving Tips: Salary Rs 12 lakh per annum, income tax 0. How is it possible? Know expert calculation

Wed, Jan 17, 2024

Every salaried individual is subject to tax as per the slab rate depending on their total taxable income, including other income, i.e., interest, dividend, rent. etc. When you file your income tax return (ITR), you have to pick between the old and new tax regimes. If you have invested in tax-saving schemes, the old tax regime will provide you with tax deductions.

NPS: How investment in National Pension System may reduce your income tax completely

NPS: How investment in National Pension System may reduce your income tax completely

Thu, Jan 11, 2024

National Pension System (NPS) is a popular tool for investors seeking a sizeable retirement corpus and a pension after that. While it gives you financial freedom to live your post-retirement life freely, it also works as an effective tool to save income tax. On an NPS investment, you can claim a tax exemption under Section 80CCD of the Income Tax Act. It has two sub-sections: 80CCD(1) and 80CCD(2). Apart from this, there is another sub-section of 80CCD(1), 80CCD(1B), which apply to the tax benefits under NPS.

Income Tax Saving Tips: Have no investment? Including these allowances in your salary can help you save tax a great deal

Income Tax Saving Tips: Have no investment? Including these allowances in your salary can help you save tax a great deal

Mon, Jan 08, 2024

Section 80C of the Income Tax Act allows us to save tax up to Rs 1.50 lakh if we have made investments in schemes such as Life Insurance (LIC), National Pension Scheme (NPS) or Public Provident Fund (PPF). But if we don't have investments in the schemes under Section 80C, we may have to pay heavy taxes under the old tax regime. However, if you include these seven allowances in your salary at the time of joining the organisation or sometime midway, you can save a lot of tax. Know how!

NPS, Home Loan Interest, HRA: Not part of 80C, these 10 investment options may give you complete tax relief

NPS, Home Loan Interest, HRA: Not part of 80C, these 10 investment options may give you complete tax relief

Sun, Jan 07, 2024

The most popular way to save income tax is 80C, but most of the savings schemes come under its purview and exemption is available only up to Rs 1.5 lakh. But, there are many other investment options which may give you a complete tax relief. In this write-up, we will give some such tax saving tips.

Income Tax Return Filing Deadline: 3 tax saving tips for last minute taxpayers

Income Tax Return Filing Deadline: 3 tax saving tips for last minute taxpayers

Fri, Jul 28, 2023

Income Tax Return Filing Deadline: Beyond the conventional tax saving measures that salaried taxpayers use to the hilt, like the regular 80C and 80D, here are three other powerful tax-saving clauses that could yield sufficient tax savings.

How to pay zero income tax on Rs 10 lakh income and above - details

How to pay zero income tax on Rs 10 lakh income and above - details

Fri, Jan 20, 2023

Budget 2023: Apart from this, there are several other sections available to claim deductions ranging from interest on loans (home and education) to premium on health insurance.

Money Guru: What are Exchange Traded Funds?

Money Guru: What are Exchange Traded Funds?

Mon, Feb 28, 2022

In this episode of Money Guru, know how to make money in the ups and downs of the market?

7 Ways To Save Income Tax On Your Salary & Get The Best Returns

7 Ways To Save Income Tax On Your Salary & Get The Best Returns

Tue, Feb 08, 2022

Ran out of ideas to save income tax on your salary? Here are 7 ways you can get the best returns and save your hard-earned money.

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