Senate Reinstates Tax Benefit For Low-Income Families in Bill.Reports on a bill approved by the U.S. Senate that would allow low-income families to earn a temporary increase of child tax credit.EBSCO_bspWall Street Journal Eastern Edition...
At DBS Treasures, you can invest in Equity-linked Savings Schemes and get a tax benefit under section 80C of the Income Tax Act. Under an ELSS, your funds are handled by fund managers and also have tax benefits. Under Section 80C of the Income Tax Ac...
Moreover, the gains exceeding Rs 1 lakh are taxed at the rate of 10% without the benefit of indexation. You may invest in ELSS Funds to accumulate wealth for children’s education, planning for retirement and other long term goals. How to pick the right balanced fund? Your investment ...
However, everybody and anybody is not entitled to take benefit of the aforesaid rebate. Anybody and everybody are not eligible for this rebate. For Instance, HUFs and NRIs are not entitled to this rebate. So Who is Eligible for This Rebate Under Section 87A? There has always been chaos,...
Reverse Tax benefit on Home Loan if Selling House in 5 years of possession RJA 25 Dec, 2022 Selling House within 5 years of taking possession will Reverse Tax advantage on Home Loan As per Sec 80C of income tax act 1961, In case we sell house within 5 years from the end of the ...
Taxpayers who had missed out on getting the benefit of transitional tax credits during India’s switchover to the Goods and Services Tax (GST) regime five years ago, will now get a fresh window to avail them. What is Transitional Tax Credit? A tax credit is a component of a company’s...
Deductions under 80C up to limit of 1.5 lakh are available to Senior Citizen just like any other resident individual. This includes Life insurance premium, contribution to Public Provident Fund or Provident Fund, Investment in Equity Linked Savings Schemes (ELSS) of mutual funds, Home loan principa...
ELSS scheme is an excellent option to grow your money and save tax simultaneously. There are other tax saving options as well likePPF Vs ELSSorNPS vs ELSS, etc. But with regards to ELSS schemes, you may question as towhich is better for ELSS lumpsum vs SIP. But for most investors, SI...
Virender-Yes you can avail tax benefit under different sections of income tax for principal and interest payment. But let me know what type housing loss you incurred. Reply virender yadav May 22, 2014 at 10:03 AM Thanks for your response. I am not very clear about this clause, i gone...
An NRI is allowed to claim standard deduction of 30%, deduct property taxes and take benefit of a interest deduction if there is a home loan. The NRI is also allowed deduction for principal repayment under section 80C. Stamp duty and registration charges paid on purchase of a property can ...