Buy insurance, not just for income-tax breaks, but because you really need an insurance policy. Consider Public Provident Fund to be a great investment, even without tax breaks.
Section 80C is perhaps the most popular section in the Income Tax Act for claiming tax deductions. You can claim deductions for investments made in different avenues such as PPF, NPS, ELSS, among others for a total of up to Rs 1.5 lakh per financial year.
The interim Budget 2023 might not have any goodies in store for those who were seeking a relaxation in the Section 80C tax deduction basket. But Equity-Linked Saving Schemes still remain a great catch
Section 80C provides taxpayers investment avenues to claim deductions of up to Rs 1.5 lakh per financial year. So, don’t be swayed by tax benefits alone and pick options that suit your investment horizon and risk appetite.
Although there are many such financial investments available, not all would suit your risk profile and requirements. Investing in the wrong instrument just to save on taxes is like boarding a wrong train
There will be heightened expectations from the markets as well as people about plucky policies with focus on raising people’s income levels, enabling greater investment in infrastructure to generate jobs and boost farm incomes
Former Vice Chairman of Niti Aayog, Arvind Panagariya, says the government needs to simplify personal taxes and end all exemptions, or most of them
Employees will have to choose a regime in April for making investment declarations, but can change the choice while filing tax returns.
NPS for the government sector was increased from 12 percent to 14 percent last year - a similar increase is expected for the private sector as well.
The cut in personal income tax is quite likely as the government may want to increase purchasing power of and consumption by individuals, to boost demand in the economy
Personal finance expert, Amol Joshi, Founder of PlanRupee Investment Services, will help you find out how tax efficient is it to invest in insurance products.
As compared to other havens available under Section 80C of the Income Tax Act, ELSS has the shortest lock-in period
The final date of making investments is about to come, are you done with all your investments? If you still haven't invested your money in tax saving instruments and reduced your tax liability then also, you need not have to worry about it. Section 80C of Income Tax Act provides you with the benefit of doing tax savings of Rs 1.5 lakh in a particular financial year. Here are nine tax savings solutions.
Unit Linked Insurance Plans offered by insurance companies are a popular investment option.
As the new financial year unfolds it would soon be time for taxpayers to file their returns. If you are one of the nearly 4 crore taxpayers, you must ensure that you file your returns within the stipulated due date.
Taking advantage of tax deductions for investment under section 80C of the Income Tax Act must start with a list of investments already made to avoid unnecessary overinvesting for tax deduction.
A woman's financial plan must be aimed at creating long-term financial stability. Their emotional needs must be factored into the financial plan.
Income tax authorities have specified deadlines for many actions. If you follow the rules, you stand to gain in terms of saving on income tax and peace of mind.
Financial planners and experts seem to be in agreement that Equity Linked Savings Schemes (ELSS) is the best investment avenue under Section 80C of the Income Tax Act since it outscores other options in terms of liquidity and returns.
Investing in tax saving ELSS mutual funds would help you to save tax u/s 80C as well as giving superior returns.
The life insurance penetration is still tumbling in India, which currently is at 2.72% for the year 2015 dipping from 3.4% in the year 2011.
Insurance penetration, which refers to insurance premiums as a percentage of gross domestic product (GDP), stands at 3.4 percent in India according to the Swiss Re sigma report
Annuity received out of maturity of pension fund under the pension or annuity policy should be exempt from tax under Section 10(10A). Annuity purchased after maturity of pension policies of life insurance companies should be exempt from service tax.
Finance Minister Arun Jaitley might announce some major changes in the tax landscape. Here, we explain a few taxation terms that might crop up and what is likely to change relating to them.