How to save tax other than 80c - quora

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Web19 okt. 2024 · Let us now understand how you can utilise these 10 tax saving options to save tax. 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. Web26 feb. 2024 · If you have exhausted the Rs 1.5 lakh limit under Section 80C, then additional tax can be saved by investing Rs 50,000 in NPS. This deduction claimed will be over and above Section 80C deduction of Rs 1.5 lakh. Here is a look at the tax benefits one gets by investing in NPS. Getty Images Puneet Gupta

Time to submit investment proofs for tax? Here’s the guide

WebSection 80 C : Find out the Investments and payments that are eligible for 80C deductions. Compare the popular 80C investments in terms of risk, returns, lock-in. X. ... How to save tax other than section 80C? Apart from 80C, various other provisions allow deductions to taxpayer as follows : 80D- for medical insurance premium for self, ... Web31 mrt. 2024 · “With several investment products, small saving instruments, insurance policies, pension schemes, home loan repayments, EPF contribution, etc. crowding Section 80C, taxpayers often tend to... iowa city council elections

NPS: Everything you need to know - ET Money Blog

Web24 feb. 2024 · How to Save Tax Other Than 80c. Section 80C of the Income Tax Act allows you to claim a deduction of up to Rs 1.5 lac from your total taxable income. This is an excellent way to minimize your tax liability. However, there’s a lot more to tax planning than Section 80C. Deductions under numerous other Acts also allow you to enjoy tax benefits. Web21 mrt. 2024 · Beyond the contribution of Rs 1.5 lakh under Section 80C, you can invest an additional Rs 50,000 in NPS which can be claimed as tax deduction under Section … Web6 apr. 2024 · Tax Savings Under Section 80G. Donations to specified funds or charitable institutions. You need to retain the stamped receipts of the donations and make sure the … iowa city council website

What are the best ways to save tax in India other than …

35 Easy Ways to Save Income Tax in India (Updated for FY 2024 …

Web9 feb. 2024 · - Quora. Yes, EPF of employee contribution is a part of 80C. If you planning for tax saving under 80C (maximum saving 1.5 lac under 80C) than you have deduct your EPF contribution first than for rest you may start your planning. How do you avoid tax on investments? 7 ways to minimize investment taxes Practice buy-and-hold investing. ... Web1.Investment in tax saving options - The foremost way for tax saving is through investing your hard-earned money into various tax saving instruments. Here, you can avail tax deductions up to Rs 1.5 lakh under Section 80C of the … iowa city county numberWeb4 feb. 2024 · Section 80C/80CCC/80CCD (Rs 1,50,000): The Investment in the EPF, PPF, The Pension Plans, ELSS, FD, NPS, NSC, SCSS, Life Insurance, SSA and NPS. Also includes Tuition Fees, Home Loan’s Principal repayment, Stamp Duty (The Best Tax Saving Investments under section 80C ) Section 80E: The Interest paid on the Education Loan. iowa city council news

"WebHow to Save Tax other than Section 80C? जानिए 80 C के अलावा छुट #taxsavingtips #ca how to save taxhow to save income taxhow to save tax in indiatax sav... " - How to save tax other than 80c - quora

How to save tax other than 80c - quora

How to Save Tax other than Section 80C? जानिए 80 C के …

Web19 sep. 2024 · Section 24 is one of the highly regarded tax-saving options other than 80C. The reason behind this is that presently, for self-occupied homes, you can avail yourself of tax benefits on the principal repaid as well as on the interest amount. If you are planning to invest your money in property, know that you can also save taxes through this method. Web21 dec. 2024 · Section 80 TTA: Savings Account Interest. Interest earned on deposits in your Savings Bank or Post Office Savings Account up to a limit of INR 10,000 per year …

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Web21 dec. 2024 · Final Note: So, whether you are a resident Indian or an NRI, you can benefit from various tax saving schemes that are covered in sections other than 80C.Together, the many sections offer substantial tax relief. At DBS Treasures, our dedicated mortgage specialists will help you get instant approval on home loans at the most competitive … Web9 mrt. 2024 · Understanding Section 80D tax-saving with examples . Example 1: Nitin is 45 years old and is covered by medical insurance for himself, his spouse and dependent children, paying Rs 18,000 as an annual premium.He has also incurred Rs 4,000 for preventive health check-ups towards his family. Tax deduction under Section 80D: Rs …

Web24 jun. 2024 · Listed below are tax *-saving investments and payments under 80C of the Income Tax Act: Life Insurance: The premiums paid towards all life insurance plans are eligible for tax * benefits as per Section 80C. The deduction can be claimed for the premiums paid towards a plan for self, spouse, children or any individual from a Hindu … Web** Best Tax Saving Options Other Than 80C ** Before planning our taxes everyone should be aware of the total income and tax liability in order to be smart tax saver. The …

Web5 apr. 2024 · Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or … WebTax Benefits of NPS. The NPS has its share of income tax benefits both at the time of making contributions and at the time of withdrawal on maturity. Individual taxpayers can …

WebUnder section 80TTA of the Income Tax Act, 1961, you are allowed to claim a deduction on your savings account deposits which have been held in a cooperative society, bank, or post office. It must be noted that the amount of exemption which has been sought must be lower than Rs. 10,000. This section has been a part of the Finance Bill since 2013 ...

Web3 feb. 2024 · You can claim a tax benefit under section 80C up to Rs. 1.5L You can invest as low as Rs. 1,000 (or multiples of Rs. 100). You can increase the investment amount as per your convenience. On maturity, the entire maturity value will be received by the investor and the same will be taxed in the hands of the taxpayer. An early exit is not available. iowa city country barsWeb16 mrt. 2024 · The tax-saving options available in the 80C basket include life insurance premium, principal payment portion of a home loan, investments in five-year tax-saving bank fixed deposits (FD), National Pension System (NPS), Public Provident Fund (PPF), National Savings Certificate (NSC), Sukanya Samriddhi Yojana, ELSS etc. ooh it\\u0027s as hot as a witchWeb19 mrt. 2024 · Here is why you should not invest Rs. 50,000 to get additional tax saving in NPS under section 80CCD (1B) in 2024. The following tax deductions are applicable to the National Pension Scheme. (1) An individual can invest a maximum of Rs. 1.5 Lakhs in Tier 1 for tax deduction under Section 80CCD (1) which is part of 80C. ooh its so good with howardWeb29 aug. 2024 · Here is a complete list of tax-free deductions available under Section 80 apart from Section 80C: Up to ₹25,000 for oneself + family ( including spouse and … ooh i\\u0027m blinded by the lightWebTax saving with NPS under Section 80CCD (1B) Tax-paying citizens can save an extra amount of up to ₹50,000 if they invest in the National Pension Scheme that can go over … ooh it\u0027s so good recipesWebSection 80C consists of several investments and savings options that help you reduce your tax liability by claiming deductions against the amount invested or paid for an approved … iowa city crime logWebWhat are the best ways to save tax in India other than 80C? - Quora Answer (1 of 15): Assuming you have exhausted the limit of rs. 150000, there are other sections other than 80C to save tax 1.80 CCD(1B)- contributions to NPS up to 50,000 2.80CCD(2) - if your … iowa city county ia