Fixed Deposits (FD): TDS, Tax Exemption, Tax on Accrued Interest

Every year we plan our tax as per the income tax slab and deductions of that particular assessment years. But we always have some confusion, which investment is good to get deduction under section 80C. Here, we’ll talk about one of the most popular investment about fixed deposits comes under section 80C. You can get the complete detail … Read more

Tax Saving Schemes for A.Y.2019-20 & A.Y. 2020-21

Tax Savings is an effective measure to ensure that people save some of their tax liability in a legal way. There are many investment options which provide deductions to the assessee and some of them are listed below. The tax saving schemes are the one of the part of tax planning. Tax planning is legal … Read more

LIC Tax Deductions & Benefits – A.Y.2019-20 & A.Y.2020-21

lic deductions

The first thing comes in our mind is LIC (Life Insurance Premium) or LIP whenever we talk about deduction under section 80C. But you all know it is only one of the part or deduction along with other deductions comes under section 80C. Life Insurance Premium paid on the life insurance policies issued by LIC … Read more

Bank Term Deposit Scheme (FD): Tax Benefits & Application Procedure

Who can invest? Any individual or a Hindu undivided family, may invest in bank term deposits with a scheduled bank, in his own/Karta’s name (single holder type) or jointly with another adult/minor individual (joint holder type) on either or survivor basis. The scheme is also known as Tax Saving Fixed deposit for 5 years. How … Read more

Kisan Vikas Patra (KVPs) {Updated 2019} – A Best Tax Saving Scheme

Who Can Apply? Any adult individual can purchase KVPs in his own name (single holder type) or jointly with another individual with the condition ‘jointly or survivor’ (A Type) or ‘either or survivor’ (B type). An adult individual can purchase KVPs (single holder type) on behalf of a minor. Besides, a minor can also purchase … Read more

7.75% Saving Bonds – Application Procedure, Interest & Tax Benefits

The 7.75% Saving Bonds has notified vide notification no. F.No. 4(28) – W&M/2017, dt. 03-01-2018 as amended by notification of even No. dt. 08-1-2018. The complete detail about 7.75% is given below. You can find here the application procedure, maturity, interest, premature encashment, transferbaility, nomination, loan facility and tax benefits. Who can Purchase? Any individual … Read more

National Saving Time Deposits – Everything You Wanted to Know

Eerlier this scheme is known as Post Office Time Deposits. Now its name is National Saving Time Deposits. . Who Can Open? Any individual can open an account in National Saving Time Deposits, whether singly or jointly with another person. Account can be opened on behalf of a-minor or a person of unsound mind, Even … Read more

NSC Accrued Interest Chart: Calculate NSC Interest Instantly

nsc accrued interest chart

The rate of interest is 7.6% (7.8% on certificates issued during 1-7-2017 to 31-12-2017 7.9% on certificates issued during 1.4-2017 to 30-6-2017 8.0% on certificates issued during 1.-10-2016 to 31-3-2017 8.1% on certificates issued during 1-4-2016 to 30-9-2017 8.5% on certificates issued during F.Y.2013-14 to 2015-16 8.6% on certificates issued during F.Y.2012-13 8.4% on certificates … Read more

Deduction 80C A.Y.2019-20 & A.Y.2020-21 – Complete Guide

We will cover here the complete detail about deduction under section 80C for A.Y.2020-21, A.Y.2019-20, A.Y.2018-19/A.Y.2017-18/A.Y.2016-17. We know that you are very much interested to know the deduction from gross total income to calculate net income tax. As we will discuss only here deduction under section 80C in detail. There are lots of deductions comes under … Read more

Paid Life Insurance Premium! Remember to Claim Tax Benefits

life insurance premium deduction

Life insurance premium protects one’s life as well as it is a great tool for tax planning.It helps to save tax. Life insurance premium is the amount paid by a person for buying a insurance policy. The life insurance company provides a lump sum amount at the end of term which is called maturity in … Read more

How to Create HUF | Tax Benefits | Creation & Partition of HUF

When we talk about tax planning, a new legal and effective way suggested by Tax Consultants is creation of HUF i.e. Hindu Undivided Family. In India many people have a joint family and also a joint income, so as it is a joint income it cannot be taxed in the hands of any specific individual. Therefore … Read more

SBI PPF Interest Rate & Maturity Period

The State Bank of India offers the option to invest in PPF to existing users and new users of its bank. The channel is aimed to create a habit of savings among the people of India, along with creating a reliable pool of investment which can be used by the banks from time to time. … Read more

5 Benefit of Opening SBI PPF Account

The SBI PPF account is one of the smartest ways to save tax and build a steady habit of savings. Apart from that, the SBI PPF account offers numerous benefits to the account holders which includes appointing a nominee and transferring the PPF account to some other banks as well. Given such credibility, it is … Read more