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 …
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 …
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. …
As welcome as the American Rescue Plan is for many people, the fact that it was signed into law inthe middle of tax filing season raises a number of questions. Tax free unemployment benefits The main provision in the latest Covid relief package that affects 2020 taxable income applies to those who received unemployment compensation last year. Here’s why: If …
