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.
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Fri, Jul 19, 2024
Taxpayers in the old tax regime, get a standard deduction of Rs 50,000 under Section 16 of the Income Tax Act; deduction under Section 80C of the IT Act of up to Rs. 1,50,000 towards payments made to life insurance premium, provident fund, national savings certificates, housing loan principal, children's school fees, etc; and deduction under Section 80CCD (1B) of the IT Act of Rs 50,000 on contribution to National Pension Scheme (NPS) notified by the central government.
Mon, Jul 15, 2024
Income Tax Season: Saving tax through House Rent Allowance (HRA) is a time-tested tactic. But some taxpayers take the wrong route by submitting fake rent receipts for tax saving. The Income Tax Department (I-T) can outsmart such people easily. With the last date to file ITR return today (July 31, 2024), it is important to know how the I-T Department catches violators.
Fri, May 19, 2017
The contribution of the country's smaller towns-- beyond-15 cities (B15) in industry parlance -- to mutual funds' (MFs) asset base surged 41% to Rs 3.09 lakh crore by March-end.
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