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.
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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.
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.
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!
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.
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.
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.
Mon, Feb 28, 2022
In this episode of Money Guru, know how to make money in the ups and downs of the market?
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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