Mutual funds in best investment in long term. You can start mutual funds for one more reason, that is tax saving. Few equity mutual funds are identified as ELSS funds and money invested in these funds can be declared in income tax section 80C. Invest money for 3 years and additional benefits of income tax saving apart from higher returns ...
Sukanya Samriddhi Scheme (SSS) is an investment option if you have a girl child of ten years or below. It gives fixed return of 8.5% per annum. 50% of the withdrawal is allowed only when the girl child turns 18. Investment in SSS is goal specific and the maturity amount is accessible only to the girl child in whose name ...
No, HRA is exempt from your income and not shown as a deduction under section 80C. HRA is difference from 80C lakhs and it comes under income tax section 10. Don’t consider your monthly rent as part of 80C – 1.5 lakhs. Do not confuse rent with investment. 80C encourages your investment, section 10 for your expenses. HRA is not ...
House Rent Allowance (HRA), is an amount which is paid by employers to employees as part of their salaries for accommodation. Only salaried person living in rented house can claim HRA tax exemption. Income tax section 10(13A) provides tax benefits towards the payment for rent. Tax exemption calculated based on city of residence, HRA paid, basic salary and actual salary ...