Filing ITR: Last 90 days to claim tax exemption via investments for fiscal year 2025. Check details here
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1 week, 1 day ago

Filing ITR: Last 90 days to claim tax exemption via investments for fiscal year 2025. Check details here

Live Mint  

The calendar year 2025 has begun and the financial year 2025 is set to end in three months. To claim the exemption in 2024-25 for which you will file the income tax return before July 31, investment must be made in the financial year which will end on March 31, 2025. Tax saving under 80C: Taxpayers can invest in a range of instruments such as National Savings Certificate, ULIP, and PPF to claim income tax exemption under 80C. Tax saving under 80CCD : Section 80 CCD permits every taxpayer to claim tax deductions from the amount you deposit in your NPS account. Tax saving under 80D: A taxpayer can claim a tax deduction on premiums paid towards medical insurance for self, spouse, parents, and dependent children under section 80D of the Income Tax Act, 1962.

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ITR filing: Maximise tax savings for FY 2024-25. Check investment options
1 week ago

ITR filing: Maximise tax savings for FY 2024-25. Check investment options

India Today  

As the calendar year 2025 begins, there are only three months left in the financial year 2024-25, which ends on March 31. For taxpayers looking to maximise their savings, now is the crucial time to make investments that will help claim tax exemptions for the fiscal year. KEY INVESTMENT OPTIONS FOR TAX EXEMPTION IN FY 2024-25 To claim tax exemptions …

Top Tax-Saving Instruments To Maximize Your Returns In 2025
Trending News
1 week, 2 days ago

Top Tax-Saving Instruments To Maximize Your Returns In 2025

ABP News  

Planning and strategising your taxes is one of the most critical aspects of your financial management. These policies allow you to claim deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. Public Provident Fund The Public Provident Fund is one of the most popular tax-saving options under Section 80C for income tax benefits. Fixed …

Income Tax: New tax regime continues to allow these deductions and exemptions
1 week, 6 days ago

Income Tax: New tax regime continues to allow these deductions and exemptions

Live Mint  

With the new tax regime becoming the default regime lately, several taxpayers are anxious about having lost the eligibility to claim deduction. What, however, is not known to many people is that some deductions and exemptions are still allowed in the new tax regime. New tax regime: These deductions are still allowed 1.Standard deduction: Standard deduction amounting to ₹75,000 or …

ITR Filing for FY 2024-25: Before you make investment declaration, be aware of these 5 key points
2 weeks, 2 days ago

ITR Filing for FY 2024-25: Before you make investment declaration, be aware of these 5 key points

Live Mint  

If you have invested in tax-saving instruments during the year, it is imperative that you submit the proof of investment to your employer in order to claim deduction for those investments. For instance, if you invest up to ₹1.5 lakh in certain instruments such as PPF, NSC, ULIP, you become entitled to income tax exemption under section 80C of Income …

Income Tax: 5 key points to consider before submitting proof of investments to your employer
3 weeks, 2 days ago

Income Tax: 5 key points to consider before submitting proof of investments to your employer

Live Mint  

If you are a salaried employee and have already made investments in some tax-saving instruments, it is imperative that you declare the same to your employer so that your salary in the last two months of fiscal 2025 is not reduced substantially. For instance, if you have invested ₹1 lakh towards an insurance premium and another ₹50,000 in the equity …

Budget 2024: What income tax benefits can taxpayers expect on July 23?
5 months, 3 weeks ago

Budget 2024: What income tax benefits can taxpayers expect on July 23?

India Today  

Taxpayers are eagerly waiting for July 23 when Finance Minister Nirmala Sitharaman will present the full budget for the ongoing financial year. Income tax exemption limit There is speculation that the government may raise the income tax exemption limit from Rs 3 lakh to Rs 5 lakh. If implemented, individuals earning up to Rs 8.5 lakh annually could potentially pay …

5 Tax Saving Mistakes To Avoid
9 months, 4 weeks 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 …

Mutual funds, NPS to PPF — top 5 tax saving investment tools to save money
2 years ago

Mutual funds, NPS to PPF — top 5 tax saving investment tools to save money

Live Mint  

Income tax calculator: As we are about to enter new year 2023, it's opportune for an earning individual to know the tax saving investment tools for starting a fresh investment as there is just one quarter left in FY23. Here we list out top 5 tax saving investment options where an earning individual can park one's money for higher return …

ITR: Have a Savings Account? You Can Claim up to Rs 10,000 Tax Deduction; Section 80TTA Explained
2 years, 5 months ago

ITR: Have a Savings Account? You Can Claim up to Rs 10,000 Tax Deduction; Section 80TTA Explained

News 18  

The last date of filing income tax return for the assessment year 2022-23 or the financial year 2021-22 is July 31, 2022. Let’s take a look at how it works Section 80TTA Deduction Explained Section 80TTA of the Income Tax Act, 1961, allows taxpayers to claim a deduction for the interest earned from savings account. It must be noted that …

PF, ULIP, Fixed Deposits: Top Tax-Saving Investment Options Decoded for You
2 years, 11 months ago

PF, ULIP, Fixed Deposits: Top Tax-Saving Investment Options Decoded for You

News 18  

Tax Saving Schemes: Saving taxes is one of the major interest for taxpayers across the world, as much of an individual’s earnings are spent on clearing duties and excises. Section 80C of Income Tax Act The Section 80C of the Income Tax Act is one of the most popular options to save taxes for individuals and HUFs in India. Here …

Income Tax Return: Settling The Old vs New Tax Regime debate
4 years, 11 months ago

Income Tax Return: Settling The Old vs New Tax Regime debate

India TV News  

Finance Minister Nirmala Sitharaman announced a new simplified tax regime for personal taxpayers. However, it depends upon person to person which tax rates are beneficial to go ahead with.” Income Tax Slab for New FY 2020-21 New Tax Rate Old Tax Rate Upto Rs 2.5 Lakhs NIL NIL Rs 2.5- Rs 5 Lakhs 5% 5% Rs 5- Rs 7.5 Lakhs …

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