Articles for Savings Tax

National Savings Certificate: Know the latest rate and tax benefits
2 days, 10 hours ago

National Savings Certificate: Know the latest rate and tax benefits

India Today  

In an era of fluctuating investment options, the National Savings Certificate continues to shine as a safe and tax-efficient avenue for wealth creation. These certificates not only provide assured returns but also help investors save on taxes under Section 80C of the Income Tax Act. TAX BENEFITS NSC deposits qualify for a deduction under Section 80C, up to Rs 1.5 …

Tax Investment Rate Nsc National Savings Certificate Stable Returns
Cabinet will not introduce new Box 3 savings tax, causing €2.5 Billion shortfall
4 weeks ago

Cabinet will not introduce new Box 3 savings tax, causing €2.5 Billion shortfall

NL Times  

The Dutch government’s proposed overhaul of the Box 3 tax system, which taxes savings and investments, has been officially delayed by one year, State Secretary for Fiscal Affairs Tjebbe van Oostenbrugge announced. In June, the Supreme Court determined that the existing Box 3 tax unfairly burdened taxpayers by assuming a fixed return on savings, investments, and additional real estate. The …

Real Estate Council State System Box Savings Tax
Labour Errs Badly by Discouraging Pension Savings
1 month ago

Labour Errs Badly by Discouraging Pension Savings

Live Mint  

-- Labour’s recent budget profoundly altered the UK’s pension landscape, but the full significance of its impact has yet to be recognized. It was an estate planner’s dream to have the taxpayer subsidize a vehicle that not only dodged capital gains tax, but also provided immunity from the ultimate fiscal arbiter. Although buying an investment property doesn’t attract initial tax …

Tax Property Investment Pension Inheritance Tax Pensions Iht
6 Tax-Saving Investments To Consider Before The Year-End
1 month, 1 week ago

6 Tax-Saving Investments To Consider Before The Year-End

ABP News  

With 2024 about to conclude, it is time to finalise and submit investment proofs to your employer. Equity Linked Savings Schemes ELSS are tax-saving mutual funds that invest largely in stock markets and offer tax deductions up to Rs 1.5 lakh per year under Section 80C of the Income Tax, 1961. Moreover, investments in tax-saver FDs up to Rs.1.5 lakh …

Savings Tax Investments Income Interest Sec Lakh
From ELSS to PPF: 7 key tax-saving investments you should make before the financial year ends
1 month, 2 weeks ago

From ELSS to PPF: 7 key tax-saving investments you should make before the financial year ends

Live Mint  

If you plan to file your income tax return under the old tax regime, you can start making investments in some tax-free instruments in order to claim deduction under section 80C before the financial year comes to an end. Under section 80C of Income Tax, taxpayers can claim tax deduction against their investment in a few select saving instruments which …

Tax Investment Income Tax Invest Lakh Scheme Emi
How working abroad gives young Indians a headstart in creating wealth back home to secure financial growth and stability
1 month, 3 weeks ago

How working abroad gives young Indians a headstart in creating wealth back home to secure financial growth and stability

Live Mint  

As a 27-year-old, Bivin Sonthalia already owns three apartments in Kolkata, two funded by him and the third bought jointly with his brother. Initially, I used to get ecstatic looking at the absolute rupee amount, thinking how long it would take me to save this much working in India," said Sonthalia. “My rupee salary is lower after moving back, but …

India Financial Savings Tax Indian Currency Gupta
Why Putin’s inflation battle is weakening Russia from within
4 months, 4 weeks ago

Why Putin’s inflation battle is weakening Russia from within

The Telegraph  

There is no better signal that money is tight than Putin’s decision to appoint a trained economist with zero military experience as his defence minister. “The risk is that a slowdown in growth will become much more pronounced than moderation in inflation which could mean that Russia might be facing a scenario of stagflation as early as next year. This …

Growth Russia Putin Russian Next Year
Union Budget 2024: These mutual fund investors will benefit if Section 80C limit is increased
5 months, 2 weeks 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
What is Great British Energy? Labour’s flagship policy explained
7 months, 1 week ago

What is Great British Energy? Labour’s flagship policy explained

The Telegraph  

How will it be paid for? But the Conservatives have pointed to analysis from investment bank Stifel which found Labour’s windfall tax would only bring in £6.5bn of additional tax by 2030. The Conservatives have said Labour’s green energy plans are an uncosted “vanity project” from Ed Miliband, the shadow energy secretary, that will lead to tax rises. They also …

Tax Labour
Centre drafting response to SC concerns on Adani stock meltdown, says Nirmala Sitharaman
1 year, 10 months ago

Centre drafting response to SC concerns on Adani stock meltdown, says Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on February 11, 2023 signalled that the government is drafting a response to the Supreme Court’s concerns about the meltdown in Adani group stocks in the wake of a research report published by US-based short seller Hindenburg Research, and stressed that India’s “experienced” regulators are already seized of the matter. Ms. Sitharaman, responding to a query …

India Sitharaman His Family Regulators Stock Meltdown
Senior Citizen? Want Better Returns Than FD, Tax Benefits, Regular Income Post Retirement? Do This
2 years, 6 months ago

Senior Citizen? Want Better Returns Than FD, Tax Benefits, Regular Income Post Retirement? Do This

News 18  

If you are a senior citizen and wants a regular stream of income and tax saving benefits, the Senior Citizens Savings Scheme is the scheme you should consider. It is a government retirement saving scheme that helps senior citizens receive quarterly interest payments along with tax benefits. For instance, Punjab National Bank offers interest rates in the range of 3.50-5.75 …

Savings Interest Rates Senior Citizens Open Citizens Rates 60 Years
Budget 2022: Taxing time for common folks but big bonanza for politicians; here's how to correct this anomaly
2 years, 11 months ago

Budget 2022: Taxing time for common folks but big bonanza for politicians; here's how to correct this anomaly

Firstpost  

A measly Rs 1.50 lakh is what one gets by way of deduction from taxable income towards savings and investments. Thus, the present scheme can be tweaked as follows: On the first Rs 2 lakh of savings, 100 percent deduction from the gross total income; On the next Rs 2 lakh of savings, 90 percent deduction; On the next Rs …

Savings Tax Political Parties Lakh Emi Deduction Rs 2 Lakh
LIC pension scheme or Senior Citizens Savings Scheme: Check interest rates, tax benefits
4 years, 4 months ago

LIC pension scheme or Senior Citizens Savings Scheme: Check interest rates, tax benefits

Live Mint  

Coronavirus has taken a huge toll on economy, impacting our lives in more ways that one. Amid this falling interest rates, here are two attractive investment options for those who are 60 or above— Senior Citizens Savings Scheme and LIC Pradhan Mantri Vaya Vandana Yojana. Senior Citizens Savings Scheme Touted as one of the simplest investment options, this unique scheme …

Savings Pension Interest Rates Interest Senior Citizens Citizens Scheme
3 reasons why ELSS is a good tax-saving tool
5 years, 11 months ago

3 reasons why ELSS is a good tax-saving tool

Live Mint  

An equity-linked savings scheme or ELSS is an equity mutual fund investments which qualifies for tax deduction under Section 80C. For long-term investors, choosing ELSS over other 80C products like PPF and NSC is more beneficial from a wealth creation perspective. Shortest lock-in For those who like having access to their funds, an ELSS has the shortest lock-in period of …

Elss
Budget 2019: It’s a rebate and not an exemption
5 years, 11 months ago

Budget 2019: It’s a rebate and not an exemption

Live Mint  

There is some confusion on the tax rebate announced in the union budget today. For instance, if house rent allowance is a part of an assessee’s salary component, it is exempted from tax depending upon certain rules. Also, as per section 10 of the Income tax Act, 1961, agricultural income earned by the taxpayer in India is exempt from tax. …

Tax Income Exempt
SBI income tax saving FDs: Interest rates, minimum deposits and other details explained
6 years ago

SBI income tax saving FDs: Interest rates, minimum deposits and other details explained

Live Mint  

New Delhi: Bank fixed deposits or FDs continue to be popular investment products not just among senior citizens, but also among the investors who does not want to take risk and rather invest in the traditional method. SBI income tax saving FDs, known as SBI Tax Savings Scheme, 2006, can help you claim deductions for investments up to ₹ 1.5 …

Tax Income Saving Sbi Fds Details Explained
PPF, Sukanya Samriddhi, NSC: How to make use of small savings schemes
6 years ago

PPF, Sukanya Samriddhi, NSC: How to make use of small savings schemes

Live Mint  

Mumbai: The government offers a basket of products under small savings schemes. National Savings Certificate NSC is a five-year small savings scheme and currently gives you an interest rate of 8%. Sukanya Samriddhi Account Scheme Dedicated to the girl child, Sukanya Samriddhi Account can be opened in the name of a girl child if she is below 10 years old. …

Investment Nsc Small Savings Ppf Sukanya Samriddhi Account Sukanya Samriddhi Other Investment Options
SBI tax savings fixed deposit account: 5 things to know
6 years, 1 month ago

SBI tax savings fixed deposit account: 5 things to know

Live Mint  

New Delhi: State Bank of India offers a fixed deposit or term deposit scheme called the SBI Tax Savings Scheme, 2006. SBI Tax Savings Scheme offers tax benefits of up to ₹ 1.5 lakh under Section 80C of the Income Tax Act. The minimum deposit in an SBI Tax Savings Scheme, 2006, fixed deposit plan is ₹ 1,000 or multiples …

Savings Tax Sbi 2006 Deposit Scheme Sbi Tax Savings Scheme Sbi Tax Savings