Tag Archives: Section 80C

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 […]

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 […]

Considerable Points before making fresh investment under Section 80C

Considerable Points before making fresh investment under Section 80C The fag end of the financial year is when we scurry around and grapple with bewildering alphanumeric combinations like Section 80C and 80DD. If your tax­ saving efforts are last minute the chances of locking funds in an unsuitable investment are quite high.

Complete investments, expenditures than can be claim under Section 80C

Complete investments, expenditures than can be claim under Section 80C However we already know the deduction available under section 80C of the Income tax Act, 1961. The maximum amount of deduction that can be claimed under section 80C is Rs 150000 for FY 2015-16. The section have many investment options to the taxpayer that not […]

Latest amendments to Life insurance policies eligible for deduction U/s 80C.

Latest amendments to Life insurance policies eligible for deduction Under Section 80C Through life Insurance Policies individuals and HUF can save major tax .Lots of major changes have done in Section 194DA on payment of premiums which can be easily understand through below article.Amendments to section 80C – Tax Effect on Life Insurance Policies:-While claiming […]