Income Tax : NSC offers 7.7% interest, tax benefits under Section 80C, and capital security. Learn about its taxability, lock-in period, and in...
Finance : It’s that time of the year when you need to invest in different investment products to enable tax savings for FY 2021-22 OR else...
Income Tax : Introduction- The pleasure of receiving money may get reduced when a substantial part of money is paid by way of taxes. To maintai...
Income Tax : Comparison of Various Saving Scheme Article explains comparison of Various Saving Scheme for the purpose of Tax Planning & I...
Income Tax : Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88. The new section 8...
Finance : The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra...
Income Tax : Government has decided to effect a reduction of 0.1 percentage points in interest rates across the board in all Small Savings Sch...
Income Tax : On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Ac...
Finance : Central Government has notified revised Interest Rate for the perios from 01.04.2016 to 30.03.2016 on Small Savings Schemes like P...
Income Tax : Office Memorandum (OM) No.6/01/2011-NS.II dated March 31, 2015 Government Announces Interest Rates for Various Small Savings Schem...
Finance : Interest rates for Small Savings Schemes for Q4 of FY 2024-25 will remain unchanged from Q3, effective January 1, 2025....
Finance : The Government of India keeps interest rates unchanged for Small Savings Schemes for Q3 FY 2024-25, effective from October 1 to De...
Finance : Amendments to National Savings Scheme rules will end interest accrual on balances from October 2024. New guidelines circulated by ...
Finance : Discover the latest interest rates for Small Savings Schemes for April-June and July-September 2024. Get detailed insights and com...
Finance : Read about the official memorandum from the Ministry of Finance on small savings schemes interest rates for the first quarter of F...
Savings are generally made from taxable income, which has already been subjected to tax provisions. There are certain savings which, if made enjoy exemption from taxation. Not only this, the income or returns arising from such savings or investments are also exempt from tax and when such savings are redeemed on maturity, they are not subjected to any income tax. Thus, such amounts of savings are never taxed at any pint of time. Such a situation works on a model of exempt- exempt-exempt (EEE). An investment in provident fund or public provident fund or national savings certificate are typical examples of EEE model, at present.
All we need to do is to bring some changes in our habits and do the tax planning for the financial year 2009-10 in advance. Moreover before one decides for tax saving one should look into the all the list of probable deductions under which one gets benefits of tax saving.
