Health insurance premiums paid for self, spouse or children, also get a tax deduction benefit under Section 80 D. Under Section 80 E you get a deduction on repayment of education loan (only interest) For example, if your gross income is Rs 7 lakh and you invest Rs 1 lakh in an instrum...
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,...
Tax saving options : 80C,80CCC,80CCD,80D,80U,80E,24 Deductions not allowed in the new tax regime List of Deductions, Exemptions still available The income tax deductions still available in the new regime include: Death-cum-retirement benefit Commutations of pensions Leave encashment on retirement...
Restoration of Indexation Benefit for Long-Term Capital Gains- Budget - 2024 Govt of India has proposed that indexation benefit under Long-Term Capital Gains will be restored for immovable property bought before July 23, 2024. As per the provisions, the Long-Term Capital Gains tax would be cal...
Once you have the results, then compare the figure to the Tax Payable under the Old Regime and the Tax Payable under the New Regime. Interestingly, the tax benefit will also be displayed in the calculator. Eventually, make an informed decision by using the E-calculator as a reference. ...
Exemption under some of these sections is available only in respect of long-term capital gains. Therefore, please ensure that you are claiming the benefit of any of these sections correctly in accordance with the provisions of law. (iv) Item C of this Schedule computes the total of short-...
(viii) the value of any other fringe benefit or amenity as prescribed inRule 3. However, the following are not included as perquisite,— (i) the value of any medical treatment provided to an employee or any member of his family in any hospital maintained by...
Yes, you can invest in ELSS funds through SIP. SIPs are a great way to invest in ELSS funds as it allows you to put fixed amount regularly, ensuring you don't have to rush at the last moment and at the same time giving you the benefit of rupee cost averaging. ...
In-built Accidental Death cover under Life Plus option. Optional benefit of Waiver of Premium on Total and Permanent Disability or diagnosis of Critical Illness. Guaranteed Income: This option offers a guaranteed regular income for a fixed term of 10 or 12 years. For Single premium, the special...
The revised return should be filed only if the mistake is valid or you have got the notice from income tax department under section 143(1)a.If after furnishing the original return, any omission or any wrong statement is discovered which was done totally unintentional then one may file a revi...