ICICI Lombard offers instant online insurance facility for Tax benefit under section 80D
in India, life insurance is eligible for tax deductions under Section 80C. But do you really think it is simple, there are many terms and conditions associated with
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...
The tax benefit is an important factor; however, this does not mean that this will be the sole factor when buying the term insurance plan. It is to be noted that a term plan is essentially an income replacement instrument for any family who has lost the breadwinner. The term plan provides...
The Act specifies benefits for taking health insurance for individuals and their families under Section 80D in the form of a deduction from income before calculating income-tax For Individuals The benefit is available to insure individuals, their spouses, children and parents. The deduction under Sect...
you will only be eligible for this benefit of tax refund and refund if the asset generated by the loan is your sole asset at the time the loan is approved. The taxpayer can also avail of the tax benefit under Section 24B for the home loan amount that can be paid a maximum of up to...
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...
tax relief for senior citizens on their medical expenditure. The relief is available against actual expenditure on health insurance premiums up to Rs 30,000 under Sections 80D and on expenditure up to Rs 60,000 on medical treatment for specific diseases under Sections 80DDB of the Income Tac ...
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. ...