Section 80C

A Nifty Guide to Reducing your Taxes After Retirement

Income Tax - To ensure a smooth retirement, you must plan your finances in advance. Make it a priority to invest in the right avenues to multiply your wealth and also to reduce your tax liability. This will allow you to bolster your income post retirement and help you live a financially secure life after retirement. Take a […]...

Read More

Section 80C deduction can be claimed despite late Return Filing: Do not fall for rumours

Income Tax - Article deal with recent Rumors in Social Media that If Income Tax Return not filed within due date, the entire Chapter VIA deductions will not be allowed which includes some of the Popular deduction i.e. Section 80C, Section 80D, etc. Some have even called it as hidden Bomb of Union Budget 2018. By this article I would like to clarify ...

Read More

Diversify your investments to have a consistent and long-term growth of your Assets

Income Tax - Come December-January and salaried individuals get into the last round of tax saving investments. The reminder mails from payroll department makes many to wakes up and look for some option that will help them to save tax. ...

Read More

Taxes in India on Cryptocurrency

Income Tax - The financial market remains abuzz with all sorts of new stories and some of them are about highly impactful items. The most recent of such news stories is that of cryptocurrencies. Cryptocurrencies came to the limelight with skyrocketing rise of the Bitcoin, a virtual currency that grew by 1500% in the last year alone. There […]...

Read More

Unit-Linked Insurance Plans (ULIPs) to achieve your Life Goals

Income Tax - ULIPs are dual combination insurance plans that not only give you the life cover but it helps you to save for your future goals.  Most of the wealth plans will ask you to pay premiums for a certain period, once your policy gets over i.e. the end of the policy, they will pay a lump […]...

Read More

No Tax on Digital Turnover up to 66 Lakh after section 80C benefit

Income Tax - If a trader makes his transactions in cash on a turnover of Rs.Two Crore, then his income under the presumptive scheme will then be presumed to be Rs. 16 lakhs @ 8% of turnover. ...

Read More

Senior Citizen Savings Schemes – Taxation and Status

Income Tax - Senior Citizen Savings Schemes deposits are eligible for deduction under section 80C of Income Tax Act but interest earned on deposit is taxable....

Read More

Rajan wants increase in Tax Exemption Limit

Income Tax - In Mumbai on Wednesday RBI Governor Raghuram Rajan said that there is a need for increase in tax exemption limit under section 80C  on financial investments by individuals. Currently Section 80C  allows investments up to Rs.1.50 lakh. Section 80C was introduced in place of section 88 w.e.f. 1-4-2006. Limit of One Lakh of Investment unde...

Read More

LIC Jeevan Sugam – New Single premium plan

Income Tax - LIC’s Jeevan Sugam is a non-linked single premium plan wherein the risk cover is a multiple of premium paid by you. On maturity this plan offers a Maturity Sum Assured chosen by you....

Read More

Panel suggest increase in exemption limit to 3 lakh and in 80C deduction to 2.50 lakh

Income Tax - A Parliamentary panel scrutinising the Direct Taxes Code - DTC Bill has suggested raising the income tax exemption limit to 3 lakh rupees from the present 1.8 lakhs. It has also suggested hiking of deduction on savings to 2.5 lakh rupees....

Read More

Contribution to unrecognized Provident fund not eligible for deduction U/s. 80C

M/s. Kodakkad Service Co-operative Bank Ltd. Vs The Income Tax Officer (TDS) (ITAT Cochin) - Admittedly, the contributions of the assessees to the Provident Fund are not a recognized Fund, the same are not eligible for deduction u/s. 80C (2) (vi) of the I.T. Act. ...

Read More

Sukanya Samriddhi Account Rules, 2016

G.S.R.323(E) - (18/03/2016) - Sukanya Samridhi Account may be opened by the guardian in the name of a beneficiary who has not attained the age of ten years as on the date of opening of the Account:...

Read More

Sec. 80C deduction on Investment in HDFC Retirement Saving Fund eligible from AY 2016-17

Notification No. 91/2015 - Income Tax - (08/12/2015) - Notification No. 91/2015 - Income Tax Central Government hereby specifies the HDFC Retirement Savings Fund, set up by the HDFC Mutual Fund registered under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 having registration No. MF/044/00/6, dated the 30th June 2000, as a...

Read More

Sukanya Samriddhi Account deposit eligible for Section 80C Deduction

Notification No. 09/2015 - Income Tax - (21/01/2015) - Notification No.09/2015 - Income Tax In exercise of the powers conferred by clause (viii) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 'Sukanya Samriddhi Account' for the purposes of the said clause....

Read More

Govt. notifies 'Reliance Retirement Fund' as pension fund for deduction U/s. 80C

Notification No. 90/2014-Income Tax - (23/12/2014) - Notification No. 90/2014-Income Tax S.O.(E) In exercise of the powers conferred by clause (xiv) of sub- section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Reliance Retirement Fund set up by the Reliance Mutual Fund registered under the Se...

Read More

Section 80C- Bank term Deposit Limit increased to Rs. 1.50 Lakh

Notification No. 63/2014-Income Tax - (13/11/2014) - Notification No. 63/2014-Income Tax Finance Minister has increased Limit Under Section 80C of the Income Tax Act to Rs. 1.50 Lakh vide Budget 2014 w.e.f. Assessment Year 2015-16 and now CBDT has inconformity with the 80C amendment increased the Limit for Investment in Bank Term Deposit for the Purp...

Read More

Recent Posts in "Section 80C"

A Nifty Guide to Reducing your Taxes After Retirement

To ensure a smooth retirement, you must plan your finances in advance. Make it a priority to invest in the right avenues to multiply your wealth and also to reduce your tax liability. This will allow you to bolster your income post retirement and help you live a financially secure life after retirement. Take a […]...

Read More
Posted Under: Income Tax |

Section 80C deduction can be claimed despite late Return Filing: Do not fall for rumours

Article deal with recent Rumors in Social Media that If Income Tax Return not filed within due date, the entire Chapter VIA deductions will not be allowed which includes some of the Popular deduction i.e. Section 80C, Section 80D, etc. Some have even called it as hidden Bomb of Union Budget 2018. By this article I would like to clarify ...

Read More
Posted Under: Income Tax | ,

Diversify your investments to have a consistent and long-term growth of your Assets

Come December-January and salaried individuals get into the last round of tax saving investments. The reminder mails from payroll department makes many to wakes up and look for some option that will help them to save tax. ...

Read More
Posted Under: Income Tax |

Taxes in India on Cryptocurrency

The financial market remains abuzz with all sorts of new stories and some of them are about highly impactful items. The most recent of such news stories is that of cryptocurrencies. Cryptocurrencies came to the limelight with skyrocketing rise of the Bitcoin, a virtual currency that grew by 1500% in the last year alone. There […]...

Read More
Posted Under: Income Tax |

Unit-Linked Insurance Plans (ULIPs) to achieve your Life Goals

ULIPs are dual combination insurance plans that not only give you the life cover but it helps you to save for your future goals.  Most of the wealth plans will ask you to pay premiums for a certain period, once your policy gets over i.e. the end of the policy, they will pay a lump […]...

Read More
Posted Under: Income Tax |

Tax Saving Through Mutual Fund

It is always better to plan your taxes in advance so that you can achieve the twin goal of maximizing wealth through investment and tax saving at once. Many a time, in an effort to save taxes at the last moment we end up buying such tax-saving instruments which are not useful in the long […]...

Read More
Posted Under: Income Tax |

How Term Life Insurance Plans act as Your Best Tax Saving Tool

Term insurance plans offer great help when it comes to savings on tax. A term insurance policy holder is entitled to tax benefits according to the provisions contained in the Income Tax Act 1961. Usually, all term insurance policies provide individuals tax deductions under the Section 80C, along with other deductions to a maximum limit of...

Read More
Posted Under: Income Tax |

Four Less-Known Facts of Tax Deduction on Home Loan

Buying a house means making your dream come true where you spend hours and days looking for a suitable property, checking backgrounds and finally scouting for the best deal on a home loan (unless you have loads of money to pay for the house without taking a mortgage)....

Read More
Posted Under: Income Tax |

Tax benefit on Insurance Premium, Mediclaim & Medical Expenses

Payment of premium on life insurance policy and health insurance policy not only gives insurance cover to a taxpayer but also offers certain tax benefits. In this part you can gain knowledge about deductions available to a taxpayer on account of payment of life insurance premium, payment of health insurance premium and expenditure on medi...

Read More
Posted Under: Income Tax |

Computation of Income Tax – FAQs & Examples

Q.1 Under how many heads the income of a taxpayer is classified? ​​​Ans: S​ection 14​ of the Income-tax Act has classified the income of a taxpayer under five different heads of income, viz.:...

Read More
Posted Under: Income Tax | ,
Page 1 of 1512345...10...Last »

Browse All Categories

CA, CS, CMA (3,600)
Company Law (3,640)
Custom Duty (6,781)
DGFT (3,556)
Excise Duty (4,087)
Fema / RBI (3,348)
Finance (3,591)
Income Tax (26,339)
SEBI (2,794)
Service Tax (3,307)

Search Posts by Date

February 2018
M T W T F S S
« Jan    
 1234
567891011
12131415161718
19202122232425
262728