Tag Archives: Deduction under chapter vi

Expenditures Under Section 80C that Help You Save Tax

Expenditures Under Section 80C that Help You Save Tax Most of us want to save our money. Now, there are many plans and policies that help us save for our future as well as for rainy days. Careful planning can help us save in our taxable income as well. Various schemes and expenditures fall under […]

Tax Benefits related to rent paid,PPF and National Pension System

Tax Benefits related to rent paid,PPF and National Pension System Tax benefits in respect of rent paid Section 10(13A) of the Income Tax Act provides for Tax Benefits to a salaried person in respect of rent paid for a rented accommodation occupied by him if he is in receipt of House Rent Allowance (HRA) called […]

How to claim deduction under section 80c on tuition fees

How to claim deduction under section 80c on tuition fees Sending kids to school has an inbuilt tax advantage for parents. This is because tuition fee qualifies for tax benefit under Section 80C of the Income-tax Act, 1961. The amount of tax benefit is within the overall limit of the section of Rs 1.5 lakh […]

Does the senior citizens savings scheme qualify for section 80C benefits?

Does the senior citizens savings scheme qualify for section 80C benefits? I am a retired government employee. In June 2017, I deposited Rs 15 lakh in the post office senior citizens saving scheme. Does it qualify under section 80C tax benefits? If so, do I need to save Rs 1.5 lakh as equity-linked savings scheme […]

Waiting for last minute investments to save tax ?

Waiting for last minute investments to save tax ? Here is the ending of financial year month of March where you can take your worst financial mistakes as investors rush to make tax ­saving investments. ELSS funds are top of the ranking of best tax­ saving options earlier this year. However, though financial planners recommend […]

Save tax under section 80C using ELSS fund

Save tax under section 80C using ELSS fund As You aware that this is the last month of the financial year sees investors rushing to save tax by investing in tax saving instruments. You can save tax by investing upto Rs 1.5 lakh in equity ­linked savings scheme (ELSS) under section 80C of the Income […]