Section 80c News Today

There is no restriction on the number of houses a person can own under the provisions of the Income Tax Act. Likewise, there is no restriction on the number of houses a person can avail of the tax benefits for a home loan

Even as the income tax department has enabled online ITR filing for the assessment year 2024-25 (or financial year 2023-24), taxpayers can now file their returns

Out of 39 ELSS schemes, one scheme gave double digit return, 37 schemes gave single-digit return and one scheme gave negative return

Anil Rego explains the implications of choosing between old and new tax regimes, emphasizing the importance of deductions like home loan interest. Opting in is necessary for the old regime, which offers specific benefits for tax planning. Rego says: "It makes sense for you to go for the new tax regime if you do not have too much tax saving investments. But you would ideally need to compute it."

Section 80C is the most well-known and widely used deduction. But it is mostly for those who will opt for or have already opted for the Old Tax regime.

India Business News: EPF contributions offer tax benefits under Section 80C, with deductions limited to Rs 1.5 lakh annually. Interest earned is tax-exempt within Rs 2.5 l

Income Tax Act provides certain avenues to save tax by investing funds in specified securities like PPF, LIC premiums, fixed deposits, ELSS , ULIP, NSC, etc; Income Tax Saving: Just 1 Day Left For March 31 Deadline, Know What Experts Say

Financial Literacy News: Tax-saving time is here. You have until March 31, 2024, to finalize your tax-saving plans for the 2023-24 financial year. If you're sticking to the old tax rules, there are plenty of deductions and exemptions to help you save on income tax.

From curbs on Paytm Payments Bank accounts to planning of investments to save taxes to paying advance taxes, a lot is happening this month. Here’s what to watch for.

Tax planning: In a hurry to save on taxes under section 80C, which offers tax deductions of up to Rs 1.5 lakh on certain instruments, including life insurance premiums, many end up buying products such as endowment plans and unit-linked insurance policies (Ulips) that they do not necessarily need.