Page 19 - Section 80c News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Can you get home loan tax benefit when property acquisition is pending? × My cousin participated in the e-auction of immovable properties mortgaged to one of the nationalised banks during Dec 2019 and he was declared the successful bidder of the house property (flat in Chennai). He was asked to remit the stipulated sum within a period of 20 days from the date of auction. He arranged 30 per cent of the value of the property from own source and balance sum has been borrowed from a nationalised bank as housing loan. He was able to fulfil his commitment within the time frame. In view of litigati...

(Tax-savings are inclusive of cess at 4 per cent) Alternatively, suppose your gross total income for FY 2020-21 is Rs 10.5 lakh. By claiming a deduction of Rs 1.5 lakh under section 80C, your net taxable income reduces to Rs 9 lakh. By claiming the deduction, you will now be in the 20% tax bracket instead of the 30% bracket. 5 popular investment avenues for tax deduction under Section 80C Autoplay1 of 7 ​Commonly-availed tax-savers One of the most common deductions available under the Income-tax Act, 1961 is section 80C. The deduction under 80C can be claimed only if an individual opts for ...

Did you know you that can claim tax deduction on stamp duty? Here are other tricks that can help you cut tax. Host: Tania Jaleel; Producer: Paramveer Singh

Updated Feb 27, 2021 | 08:09 IST Look at the portfolios of the ELSS schemes and ensure that the ones you have selected have varied allocation to different sectors and stocks Looking to invest in ELSS to save tax? Know things to keep in mind before choosing an ELSS  With the tax-saving season for this financial year coming to a close, several taxpayers zero-in on ELSSs due to its shorter lock-in and potential for high returns compared to most other tax savers which either have a longer tenure or are debt-oriented, and low returns over longer tenures. Since ELSS is of...

Synopsis Deduction under section 80C of the Income-tax Act, 1961 can reduce up to Rs 1.5 lakh from the gross total income in a financial year. Here is how this section works and can help you save tax in a financial year. Getty Images Eligible investment instruments include Employees' Provident Fund (EPF), Public Provident Fund (PPF) etc. One of the most common deductions available under the Income-tax Act, 1961 is section 80C. The deduction under this section can be claimed only if an individual opts for the old/existing tax regime in a financial year. On the other hand, if an individual opt...