With just over 10 days left to save on taxes, individuals can invest in instruments under Section 80C to reduce their taxable ...

The Indian taxation framework, as delineated by the Income Tax Act of 1961, may initially seem daunting. Nevertheless, ...

The investment under 5-year deposit account qualifies for the benefit of section 80C of Income Tax Act ... Notably, maximum income tax deduction offered to taxpayers is ₹1.5 lakh per annum.

At the same time, 80G deals with tax deduction for contributions to relief funds and charitable institutions. 3. Maximum limit: The maximum limit for all saving instruments under section 80C ...

IRS penalties are typically assessed for violations of tax laws, such as misreporting income or claiming false deductions or tax credits. The IRS typically assesses penalties along with interest ...

Several FDs also provide tax benefits under Section 80C of the Income Tax Act. With financial year 2024-25 ending in a few days, you can still plan your investments to save more on your total income ...

50,000 are deductible under Section 80C of the I-T Act, regardless of whether the property is owned or rented. Depreciation: The taxation rules do not provide a direct deduction for depreciation under ...

Less: Exemptions on Salary income (other than HRA) which are not allowed under New Regime (e.g. Leave travel allowance, Education allowance, Hostel allowance etc.) Less: Exemptions on Salary ...