This post, we would discuss how to save tax by planning and understanding of different income tax section. Tax Planning is important to get maximum benefit for your investments HRA: This is for individuals who stay in rented home. The exemption for HRA benefit is the minimum of: i) Actual HRA received ii) 50% of salary if living in metro ...
Income tax slab for India is defined based on yearly income. Existing tax slab is 0%, 5%, 20% and 30% based on yearly salary. In this blog, we will discuss how to pay zero tax by proper tax planning and investments. Up to Rs.2.5 lakh ...
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 ...