5 Tax Planning Tips for Salaried Employees for A.Y. 2019-20

The new budget announced this year by the new government brought a host of changes. However, the scope for salaried class were, as usual, limited. Only a few positive chances were introduced to enhance the quality of life of the salaried or working class. In these cases, tax planning can be extremely beneficial in saving … Read more

Tax Saving Schemes for F.Y.2018-19 or A.Y.2019-20

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

Deduction U/S 80DD: Medical Treatment of Handicapped Dependents

Deduction in respect of Medical Treatment, etc. and deposit made for maintenance of handicapped dependents  – Deduction under section 80DD As we have discussed earlier about deduction under section 80C, 80D, 80CCC, 80CCD and other deduction. Here, we’ll talk about deduction under section 80DD related to medical treatment etc and deposit made for the maintenance … Read more

LIC Tax Deductions & Benefits

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 or … Read more

Taxation of Retiring Person with Tax planning

As you start to reach your retirement days, various questions in respect of taxation start to haunt you. Most of the people retire at the age of 60 which not only makes them old enough to work, but also makes them a senior citizen of the nation. This is where your tax planning becomes crucial. … Read more

9 Simple Tax Planning Tips for F.Y.2018-19

Tax planning has always been the test of efficiency for people along with being a test of their cunningness such that they can save their taxes in a lawful manner. Here are some of the tips that can help you to plan your taxes for F.Y.2018-19. 1) Invest in policies Policies are a prominent way … Read more

NSC Interest Rate, Application, Tax Benefits & More

National Saving Certificate is an investment option by which an individual can invest his income to get a fixed interest. The interest rate is 8.1% per annum. You can reinvest the interested earned and get benefit of 80C deduction under income tax. National Saving Certificate have two options 5 years maturity period and 10 years … Read more

Kisan Vikas Patra – A Best Tax Saving Scheme

Kisan Vikas Patra is a scheme introduced by the Indian Government for the welfare of Indian Farmers. As the name includes “KISHAN” it does not mean that is only scheme for the farmers.  It is a scheme of mobilisation of funds for the KISAN’S. Note: Kisan Vikas Patras (KVPs) have discontinued w.e.f 1.12.2011 Who Can … Read more

Total Deduction Allowed u/s 80C, 80CCC and 80CCD (A.Y.2015-16)

The aggregate amount of deductions u/s 80C, 80CCC and 80CCD (1) is restricted to Rs. 1,50,00 vide Sec. 80CCE. However, deduction u/s 80CCD (1B) ( in respect of deposit by the assessee in the pension scheme upto maximum of Rs.50,000) and u/s 80CCD (2) (in respect of contribution by Central Govt/employer to the pension scheme) … Read more

8 Legal Ways to Save Tax Effectively

Today everyone in the economy wants to save himself from paying taxes or to decrease their tax liabilities.  Now to save tax paying in Indian economy the Income Tax Act grants many deductions which a person can claim at the time when he/she is filing Income Tax Return. These deductions are for all type of … Read more

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

12 Ways to Reduce Taxes on Salary

In India, everyone is in need to reduce the tax burden. Here the salaried people suffers more as the salary is received through bank so the ways of tax reduction gets decreased. In this article, we will have a look on some of the ways which could help the salaried people to reduce the tax … Read more

11 Ways to Select Best Health Insurance Policy in India

Today people are suffering from many health problems and many times these problems can take one to hospitalization. Due to the emergency problem the cost of medical care and treatment may gone very up drastically which can ruin you financially. Thus, one should choose best health insurance plan, which can result as Boon for you … Read more

5 Tax Saving Mistakes and its Solutions

Today earning money is the most important part of our life and it is also right to say that saving it is also as important as earning. The best way to save the money is to get the advantage of tax saving deductions means to minimize the tax outgo as much as it is possible. … Read more

Deduction 80D: Complete Detail (Updated) A.Y.2018-19

The person who paid medical insurance premium himself or spouse or parents or depended children can claim the deduction from total income of the person as per the instructions given below. We will discuss here the complete detail about deduction under section 80D for the A.Y. 2017-18 and A.Y. 2018-19. Who can claim deduction 80D? … Read more

6 Simple Steps to Reduce Income Tax

6 simple steps to reduce tax

After the Budget 2017, the income received by people is made transparent i.e. IT department is aware of the income received as all the transactions are to made through bank or digitally. Nobody wants to pay tax. After the budget 2017, the taxpayers are burdened for taxation. There are some ways through which you can … Read more

Deduction 80C A.Y.2018-19 – Complete Guide

We will cover here the complete detail about deduction under section 80C for 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 Chapter VI-A … Read more

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