Page 2 - Section 80d News Today

The last date to file the ITR for FY 2023-24 without a late fee is July 31, 2024. The return you will file in 2024 is for the income you earned in the period between April 1, 2023, and March 31, 2024.

Insurance can be a strategic tool for tax optimization, offering financial safety net and potential tax-saving benefits.

Income tax relief was provided for salaried individuals, while amendments in direct taxation were introduced in Budget 2023

If tax savings limit under Section 80C has been exhausted, taxpayers can still explore Section 80D that deals with health insurance premia

The new tax regime is the default tax regime for FY 2023-24 onwards and deductions under Chapter VI A i.e. 80C, 80D, etc. will not be available under the new tax regime.

As the financial year is near to its end, it is high-time for tax payers to recheck their investments and opt for the unutilised ones to ensure optimum tax savings. Here are the top tax-saving investment options people can consider before 31 March

As per the current provisions of the section, an individual taxpayer is eligible for claiming deduction up to the prescribed limit in respect of payment made towards medical insurance policy taken for self, spouse, dependent children.

How to get tax benefit despite taking maximum tax exemption under section 80C - Hospitalisation can prove to be very costly. In such situation, it is necessary that adequate cover is taken for this through health insurance policy.

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