PPF - Public Provident Fund Account If you're searching for a long-term investment strategy, consider the Public Provident Fund (PPF), which provides tax relief on the principal amount and accrues interest. The benefits of investing in a PPF include appealing interest rates with minimal risk. ...
EPF, PPF interest is tax-freeByTeena Jain
Butprovisions of these clauses shall not apply to the interest income accrued during the previous year in the account of the person to the extent it relates to the amount or the aggregate of amounts of the contribution made by the person exceeding two lakh and fifty thousand rupees in a p...
If advance tax is underpaid or unpaid, interest of 1% per month will be charged on the remaining liability. Meanwhile, Section 234C imposes interest of 1% for the first three months and 1.5% for the remaining months on any shortfall in instalment payments. ...
Interest from PPF account Rs 30,000 Amount deposited in PPF account Rs. 1,50,000 Medical insurance premium paid Rs. 22,000 House tax paid Rs. 10,000 TDS deducted on Fixed Deposit Rs.10,000 COMPUTATION OF TAXABLE INCOME for Senior Citizen ...
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Chapter VIA contains within its purview deductions for various items: Section 80C (For PPF, ELSS, LIP, EPF, home loan repayment, tuition fee and so on), 80G (donations), Section Section 80D (Health Insurance), and 80 TTA and 80TTB (Bank interest), 80CCD (NPS). Step 3: Liability ...
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Interest Certificates:These are from banks and post offices for savings accounts and fixed deposits. Home Loan Details:If you're claiming deductions on home loan interest. Proof of Tax-Saving Instruments:Includes life insurance, health insurance, Public Provident Fund (PPF), National Savings Certifica...
Direct Taxes (Click here to pay via TIN 2.0 portal) All India (except Shillong) Tax deducted at Source (TDS), Tax Collected at Source (TCS), Income Tax, Corporation Tax, Dividend Distribution Tax, Security Transaction Tax, Hotel Receipts Tax,...