News Muncher - searching for 80c

3 days, 16 hours ago

Can you avoid 30% capital gains tax on sale of cryptos? Here’s all about the new Income Tax Appellate Tribunal order

A Jodhpur bench of Income Tax Appellate Tribunal recently ordered that the gains on cryptocurrencies sold before 2022 will be treated as capital gains and not as income from other sources. This is believed to hold a lot of significance as the capital gains on cryptocurrencies sold after April 1, 2022 are taxed at 30 percent. This verdict is seen …

Tax Capital Capital Gains Sold Lakh Gains Capital Gain

1 week, 4 days ago

How are the profits from transferring an under-construction property before taking possession taxed?

Live Mint

I booked a flat for ₹80 lakh in May 2022 and paid ₹70 lakh for the instalment cost. If the transaction goes through before the possession is taken, your profits would be taxed as long-term capital gains as the right in the property was acquired more than two years ago. Capital Gains Tax Explained for Flat Sale After Two Years …

Tax Capital Flat Lakh Possession Two Years Gains

1 week, 6 days ago

शॉर्ट-टर्म कैपिटल गेन पर टैक्स की उलझन: जानिए क्या कहता है कानून

Live Mint

मैं एक वरिष्ठ नागरिक और रिटायर्ड व्यक्ति हूं। मैंने अब तक लिस्टेड शेयरों पर लगभग 5 लाख रुपये का शॉर्ट-टर्म कैपिटल गेन कमाया है। इस साल ब्याज से मेरी आय लगभग 2 लाख रुपये होने की उम्मीद है। मैंने सेक्शन 80C ते तहत कवर किए गए इंस्ट्रूमेंट में 1.50 लाख रुपये से ज्यादा का निवेश और खर्च किया है। सेक्शन …

1 week, 6 days ago

Can I claim deduction under Section 80C against capital gains from listed shares?

Live Mint

I am a senior citizen and a retired person. I have earned short-term capital gains of around ₹5 lakh till now on listed shares. My tax consultant contends that the benefit of Section 80C is not available against the short-term capital gains from the sale of listed shares, and therefore, I will have to pay tax on the entire short-term …

Tax Income Capital Capital Gains Sec Lakh Benefit

3 weeks, 6 days ago

Understanding Section 80C: Income tax benefits for NRIs and their dependents

Live Mint

My daughter is 21 years old, dependent and has no income of her own. I would like to transfer some of my incometo her savings bank account and invest in her name and through that account to save on my taxable income and tax outgo. Your understanding is not entirely correct about the eligibility of non-residents to claim deductions under …

Income Invest Nri Account Tax Savings Section 80 C Savings Bank

1 month, 3 weeks ago

Government Offers Comprehensive Savings Schemes for Small Investors: Explore Government-Backed Options

ABP News

The article highlights the various government-backed small savings schemes available in India, offering both fixed returns and tax benefits. These schemes include the Post Office Savings Account, National Savings Recurring Deposit Account, National Savings Monthly Income Account, Senior Citizens Savings Scheme Account, Public Provident Fund Account (PPF), Sukanya Samriddhi Account, Mahila Samman Savings Certificate, and National Savings Certificates. Each scheme …

Government Finance Savings Investment

4 months, 2 weeks ago

Hindu Undivided Family: How do I accumulate capital in my HUF?

Live Mint

Creating a HUF is a viable option for the writer, with the main concern being capital. By receiving a gift from a non-member relative like the father, the HUF can lower its taxable income by investing in Section 80C. If he gives my HUF a gift of ₹4 lakh, the HUF will invest ₹1.50 lakh under section 80C. Then net …

Tax Gift Lakh Itr No Tax Section 80C Huf

4 months, 4 weeks ago

Union Budget 2024 favours new tax regime. Here’s why you shouldn’t write off the old one yet

Firstpost

Finance Minister Nirmala Sitharaman announced changes in the new tax regime, which would allow for salaried personnel to save Rs 17,500 annually. However, those with higher tax deductions and higher incomes could benefit more from the old regime Changes have been introduced to the new tax regime in the Union Budget 2024. In her budget speech, Finance Minister Nirmala Sitharaman …

Finance Tax Budget Income Old Cent Lakh

4 months, 4 weeks ago

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here

India TV News

Budget 2024: In the Budget, Finance Minister Nirmala Sitharaman did not make any changes in the old tax regime but increased the exemption limit in the new tax regime, making it more advantageous than before. Proposed tax structure under new tax system 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% Above 15 lakh: …

Tax Budget Old Lakh Regime Your Income New Tax Regime

5 months ago

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?

Firstpost

In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced a revision of tax slabs under the new regime. The lowest slab in the new tax regime increased to Rs 3 lakh from Rs 2.5 lakh. The tax structure is proposed to be revised as follows: No tax for those earning up to Rs 3 lakh 5 per cent tax …

Budget Union Income 2024 Pti Old Lakh

5 months ago

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know

India TV News

Union Budget 2024: The general population, particularly those in the salaried and middle-class brackets, are anticipating significant relief measures from the government through the budget being presented today. They recommend raising the 30 per cent tax slab to apply on income exceeding Rs 20 or 25 lakh, instead of the current Rs 15 lakh limit. Additionally, there is a call …

Budget Income Rs 3 Lakh Salaried Tax Lakh Limit Bank Deposits

5 months ago

Budget 2024: How stock market has performed on Budget day in last 10 years? | Know here

India TV News

Budget 2024: Finance Minister Nirmala Sitharaman is set to present the Union Budget in Parliament at 11 am today. The budget has been a major trendsetter for the Indian stock market, with major volatility seen in the stock market upon its announcement. Year Nifty performance on budget day 2024 -0.13 2023 -0.2 2022 1.4 2021 4.7 2020 -2.5 2019 -1.1 …

Stock Market Market Budget Indian 2024 Sensex Budget Day

5 months ago

Budget 2024: These mutual fund investors will benefit if govt raises income tax Section 80C limit

India TV News

Budget 2024: With the government preparing to present the Budget for the 2024-25 fiscal year today, investors are eagerly anticipating potential changes. Many are hoping for an increase in the Section 80C limit of the Income Tax Act. If Finance Minister Nirmala Sitharaman announces a raise in this limit, it could benefit investors in Equity Linked Savings Scheme mutual funds …

Finance Tax Budget Investors Fund Funds Limit

5 months ago

Union Budget 2024: These mutual fund investors will benefit if Section 80C limit is increased

Hindustan Times

As Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget 2024 on July 23, expectations are that there may be multiple changes to income tax. A change in the Section 80C limit of the Income Tax Act can however, benefit Equity Linked Savings Scheme mutual funds. Equity Linked Savings Scheme mutual funds are tax-saving mutual funds that use …

Finance Tax Funds Mint Limit Mutual Fund 80C

5 months ago

Budget 2024: This income tax relief will benefit ELSS mutual fund investors

India Today

If Finance Minister Nirmala Sitharaman raises the Section 80C limit during her Budget 2024 presentation on Tuesday, investors in Equity Linked Savings Scheme mutual funds stand to gain significantly, reported livemint.com. Read Full Budget 2024 Coverage These funds are the only mutual funds eligible for tax deductions under Section 80C, allowing investors to claim deductions up to Rs 1.5 lakh …

Tax Fund Funds Lakh Elss Section 80C Elss Mutual Funds

5 months ago

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23

Hindustan Times

Finance minister Nirmala Sitharaman is set to present the Union Budget on July 23. Taxpayers are expecting a potential hike in standard deduction, relief in income tax rates and an increase in Section 80C exemptions in the Budget. Experts believe that adjustments to income tax slab rates could be seen in the Budget as the Finance Minister might announce tax …

Finance Tax Budget Income Rate Standard Deduction Section 80C

5 months, 1 week ago

Union Budget 2024 Expectations LIVE: Will FM Nirmala Sitharaman Increase Section 80C Deduction Limit?

News 18

Budget 2024 Expectations from Education Sector Union Budget 2024 Latest Updates: In the new globalised world, education has become the passport to progress and students across India are looking for opportunities. Budget 2024 Wishlist from Healthcare Sector Union Budget 2024 Latest Updates: Healthcare is a rapidly growing sector in the country but needs attention from the government to ensure access …

Finance Real Estate Healthcare Growth Industry Tax Indian

5 months, 4 weeks ago

Budget 2024: Will government increase Section 80C limit?

India Today

Finance Minister Nirmala Sitharaman is expected to present the Budget for 2024 on July 23 or 24, with experts suggesting that the government may look to provide tax relief in a bid to boost consumption. "The maximum deduction under Section 80C has been capped at Rs 1.5 lakhs since first budget of BJP government post-election in 2014," said Mitesh Jain, …

Tax Budget Tax Relief Lakh Increase Limit Rs 3 Lakh

6 months ago

Mutual Funds: 5 ELSS funds have given up to 25% return in last 3 years

Live Mint

ELSS funds are commonly known as tax-saving funds because they offer tax exemptions under Section 80C of the Income Tax Act. Name of the fund SIP investment 3-year returns Investment tenure Total value of returns 10-year returns Investment tenure Total value of returns Bank of India ELSS Tax Saver 10,000 25.78 3 5,46,535 20.01 10 38,26,117 JM ELSS Tax Saver …

Market Tax Investment Potential Investors Fund Funds

6 months, 3 weeks ago

PPF: Triple advantage of Public Provident Fund— explained

Live Mint

The Public Provident Fund in India offers a secure long-term savings avenue with guaranteed interest rates and income tax deductions under Section 80C. Second, the contributions made to a PPF account qualify for tax deductions under Section 80C of the Income Tax Act, providing additional financial benefits to investors. "Initially, it furnishes a secure and low-risk pathway for long-term savings, …

India Retirement Savings Interest Public Provident Fund Public Ppf

8 months, 3 weeks ago

Income Tax: 10 ways to save taxes other than Section 80C

Live Mint

There is ample opportunity to lower your taxable income. Tax benefits on the interest component of a home loan under Section 24 Section 24 of the Income Tax Act permits homeowners to avail of a deduction for the interest paid on their home loan. Section 24 of the Income Tax Act permits homeowners to avail of a deduction for the …

India Tax Income Tax Health Insurance Loan Medical Expenses Income

9 months, 1 week ago

5 Tax Saving Mistakes To Avoid

News 18

Navigating the complexities of tax-saving strategies requires diligence and awareness of available deductions and exemptions. Taxpayers have access to various provisions under the Income Tax Act, such as Section 80C, which offers deductions for investments in avenues like PPF, ELSS, NSC, and EPF. Here are 5 common mistakes to avoid that can significantly impact your tax-saving strategy; Being Unaware Of …

Deduction Deductions Tax Savings Tax Saving Saving Mistakes Tax Saving Mistakes

10 months, 3 weeks ago

Budget 2024: 6 key changes taxpayers want from FM Sitharaman

India Today

Finance Minister Nirmala Sitharaman is set to present the Interim Budget 2024-25 on February 1, covering the initial three months of the next fiscal year. While hopes for a new 25 per cent high-income tax slab are slim, expectations include increased basic exemption, standard deduction, and higher limits for 80C & 80D," Ravi said. NPS deduction under new tax regime …

Finance Insurance Tax Budget Economic Growth Economic Income

10 months, 3 weeks ago

How to make the most of tax benefits by investing in insurance products?

Live Mint

January marks an ideal period to assume control of your financial affairs. Furthermore, all premiums paid for term life insurance qualify for tax deductions under Section 80C of the Income Tax Act, with a yearly limit of ₹1.5 lakh. Similar to life insurance, health insurance provides substantial tax advantages, albeit under a distinct section of the Income Tax Act—Section 80D. …

Health Benefits Financial Life Tax Health Insurance Income

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Search results for 80c

Can you avoid 30% capital gains tax on sale of cryptos? Here’s all about the new Income Tax Appellate Tribunal order

How are the profits from transferring an under-construction property before taking possession taxed?

शॉर्ट-टर्म कैपिटल गेन पर टैक्स की उलझन: जानिए क्या कहता है कानून

Can I claim deduction under Section 80C against capital gains from listed shares?

Understanding Section 80C: Income tax benefits for NRIs and their dependents

Government Offers Comprehensive Savings Schemes for Small Investors: Explore Government-Backed Options

Hindu Undivided Family: How do I accumulate capital in my HUF?

Union Budget 2024 favours new tax regime. Here’s why you shouldn’t write off the old one yet

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know

Budget 2024: How stock market has performed on Budget day in last 10 years? | Know here

Budget 2024: These mutual fund investors will benefit if govt raises income tax Section 80C limit

Union Budget 2024: These mutual fund investors will benefit if Section 80C limit is increased

Budget 2024: This income tax relief will benefit ELSS mutual fund investors

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23

Union Budget 2024 Expectations LIVE: Will FM Nirmala Sitharaman Increase Section 80C Deduction Limit?

Budget 2024: Will government increase Section 80C limit?

Mutual Funds: 5 ELSS funds have given up to 25% return in last 3 years

PPF: Triple advantage of Public Provident Fund— explained

Income Tax: 10 ways to save taxes other than Section 80C

5 Tax Saving Mistakes To Avoid

Budget 2024: 6 key changes taxpayers want from FM Sitharaman

How to make the most of tax benefits by investing in insurance products?