Mon, Aug 12, 2024
Retirement Planning: EPF offers an 8.25 per cent annual compound interest rate to its subscribers. Deposits up to Rs 1.50 lakh in a financial year under Section 80C of the Income Tax Act, the interest earned, and the maturity amount are tax free under the scheme.
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Wed, Jul 24, 2024
What is good in this budget from the point of view of FIIs? Have the expectations of India's rating upgrade increased? Watch a special conversation with Morgan Stanley's Ridham Desai
PPF vs VPF: One can contribute up to a maximum of 12 per cent of their basic salary and dearness allowance (DA) in EPF. If one wants to contribute beyond that limit, it can be done through Voluntary Provident Fund (VPF). PPF, on the other hand, has a lock-in period of 15 years, which can be extended for further blocks of five years.
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.
Tue, Jul 16, 2024
How to save tax on home loan? Understand from Anil Singhvi in 1 minute how to save tax from "Section 80C" and "Section 24B"?
Mon, Jul 15, 2024
How can you save more income tax through section 80C? Understand from Anil Singhvi in 1 minute. How much tax can be saved through “Section 80C”?
Wed, Jul 10, 2024
While the EPF scheme offers a fixed compound return of 8.25 per cent annually, the NPS is a market-linked scheme, where the returns may vary based on equity proportion or fund manager selection. The interest earned and the maturity amount in EPF are tax-free, while there is no tax on NPS corpus if one is withdrawing up to a 60 per cent lump sum at the time of retirement.
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.
Wed, Jul 03, 2024
Tax exemption benefits: Section 80C of the Income Tax Act is quite a popular section among salaried persons when it comes to saving tax in a financial year. The section provides tax exemption of up to Rs 1.50 lakh in a financial year. But not just Section 80C, House Rent Allowance (HRA) also comes under the purview of tax exemption. This part is deducted from your total income before calculating gross taxable income.
Mon, Jun 24, 2024
Tax Saving Tips: Discover lesser-known tax-saving opportunities with these tips on investments and expenses, ranging from pre-nursery fees to health insurance and medical expenses for parents, which may help you maximise your income tax savings effectively.
Wed, Jun 12, 2024
EPF is a retirement investment scheme run by Employees' Provident Fund of India (EPFO). Every month, an employee contributes to their EPF account. The maximum amount they can contribute every month is 12 per cent of their basic salary and dearness allowance (DA). The employer also has to contribute an equal amount to the employee's EPF account.
Fri, May 31, 2024
FDs may be non-market-linked and may not have returns as high as one may get in equities and mutual funds, but a steady income from them in the form of a return gives senior citizens mental peace. Moreover, they don't have to depend on others to meet their monthly expenses. The 5-year FD also provides benefit under Section 80C of the Income Tax Act.
Mon, May 27, 2024
Post Office Time Deposit Account (TD): Post Office Term Deposit is also known as post office FD. The 5-year FD provides an interest rate of 7.5 per cent. The 5-year FD is unique as it also provides tax benefits on deposits of up to Rs 1.50 lakh in a financial year under Section 80C of the Income Tax Act. Since it's a non-market-linked small savings scheme, not only does it provide interest, but it can also help diversify your portfolio.
Wed, May 22, 2024
SBI offers different fixed desposit (FD) schemes, of which the most the most popular are the 400-day Amrit Kalash Scheme, 1-year FD, 3-year FD, and 5-year FD. It provides the highest interest in the Amrit Kalash scheme at 7.10 per cent. The interest rates in the 1-year, 3-year, and 5-year FDs are 6.80 per cent, 6.75 per cent, and 6.50 per cent, respectively.
Fri, Mar 08, 2024
And hence an investor will only be required to pay long-term capital gains tax at 10 per cent on the gains exceeding Rs 1 lakh overall at the time of redemption.
Sun, Mar 19, 2023
Taxpayers who invest in tax-saving FDs can get a deduction under Section 80C of the Income Tax Act
Sat, Mar 18, 2023
The financial year 2022-23 will end on March 31. With this, several deadlines will also come to an end. Therefore, it is important to complete all your financial tasks before March 31 to avoid paying penalties and inconvenience.
Tue, Jan 17, 2023
Finance Minister Nirmala Sitharaman will present the budget in Parliament on February 1, 2023. In this, everyone's eyes will also be on increasing the 80C limit. In a survey by financial planning startup Kuvera, 2 out of 3 respondents demanded an increase in the 80C limit. In 2014, the 80C limit was raised to Rs 1.50 lakh. Now there has been a demand to increase the tax exemption of Rs 1.5 lakh to Rs 3 lakh under Section 80C. Why is there more emphasis on increasing tax exemption under section 80C? Watch this special report on India 360.
Wed, Jan 11, 2023
Income tax experts say Section 80C is an important tool in the hands of the taxpayer as it helps in inculcating savings as well as in saving taxes.
Fri, Jul 15, 2022
Sukanya Samriddhi Yojana: This small deposit scheme allows withdrawal of money from the account of a girl child only when she attains 18 years or completes her 10th standard schooling
Wed, Jun 01, 2022
Under Section 80C, a taxpayer can lower their overall taxable income by a maximum of Rs 1.5 lakh per year. As there is a limit of Rs 1.5 lakh per year, most taxpayers wish to reduce their taxes. here know What is Income Tax Section 80C.
Wed, Jan 15, 2020
Section 80C of the Income Tax Act helps you save money on investments made in different schemes
Tue, Jul 30, 2019
The small-cap mutual fund category is topping the return chart with 14.72 per cent in five years. The category has offered 16.01 per cent in the 10-year horizon, say experts.
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