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Plan your taxes from April 2016 itself, instead of waiting until late December 2016 (or) January 2017.
While the taxation liability of people with income upto Rs 5 lakhs is reduced to half, all the other categories of tax payers in the subsequent slabs will also get a uniform benefit of Rs 12,875/- per person.
Scss (Post office Senior Citizen Savings Scheme).
There is no limit on the amount of interest you can claim as deduction under section 80E.Section 80EE This was a new proposal which had been made in Budget 2016-17.Except this change, all other.Here are the income tax rates and other other details.The income tax rate for those earning between.Also, kindly understand the tax treatment of the selected investment products across the different investment stages (i.e., investment, accrual withdrawal) and then invest.
Tax planning is an important part of a financial plan.
The unclaimed loss if any will be carried forward to be set off against house property income of subsequent 8 years.
This deduction is over and above the deduction available in Section 80C.
Principal repayment of Home Loan, nPS (National Pension System life Insurance Premium.
It is better you plan your taxes based on your financial goals at the beginning of the Financial Year taco bell gift card balance canada itself. .
Deduction under Section 80D You can claim deduction of Rs 25,000, if he is below 60 years of age, and Rs 30,000 rei rebate if he is above 60 years of age, towards medical insurance premium paid for self, spouse and children.
The various investment avenues or expenses that can be claimed as tax deductions under section 80c are as below; PPF (Public Provident Fund).Plan your taxes from April 2017 itself, instead of waiting until late December 2017 (or) January 2018.Tax Payable 3 Cess 2,65,000 1,500 1,500 0 2,70,000 2,000 2,000 0 4,50,000 20,000 5,000 15,00,000 25,000 5,000 20,000 600 Q: How can I claim section 87A rebate in ClearTax Software?If the limit of.5 lakh under Section 80C for investment is used fully, the tax would be zero for people with income of.5 lakhs.Pankaj Mathpal, Mumbai-based Certified Financial Planners says, This sounds like a good move.Tax, up to.5 lakh, nil.This is a double-edged sword as the combined effect of both these measures would be zero tax liability for people whose income is up to Rs 3 lakhs per annum and the tax liability will only be Rs 2,500 for people with income between.Income tax slabs for taxpayers for FY 2017-18: General category, senior citizens, super senior citizens (Up to 60 years of age) (60-80 years) (Above 80 years income.Salary, house income, capital gains, business or profession income and income from other sources and then deduct the eligible tax deduction amounts u/s 80C to 80U and under section 24(b) (Home Loan Interest) to come up with the net taxable income.The 10 of salary limit is applicable for salaried individuals only and Gross income is applicable for non-salaried.Only Individual Assesses earning net income up to.5 lakhs are eligible to enjoy tax rebate u/s 87A.