Ten Best Ways to Tax Deduction to Save Tax in India 2015: Two months to the end of the financial year. Employees increased income tax cuts for two months. The self-employed professionals, including recipients, in order to reduce the tax burden on income tax want to do ... If these two months. In addition to the savings that will tell you the truth ..certain to put the investment costs also can be used for tax deduction.
Similar to allow the various sections of the Income Tax Act. How to reduce the tax burden on the income tax return on the 'witness profit' provided the main item .
Tax in many ways
Savings, investments that are not ... save
Income tax refund Savings
See Section 80 income tax department reminds directorate of income tax burden. Some types of savings made under this section, the tax benefit by having to pay a maximum of Rs 1.5 lakh. This would amount to just half a million in the last financial year. The Modi government came to power, immediately raised. Mainly to the following income tax india that can be claimed for tax exemption.
Employees Provident Fund (EPF)
Public Provident Fund (PPF)
Equity Linked Savings Schemes (Tax Saving Funds)
Bank deposits to five years
National Savings Certificates
Senior Citizens Tax Saving Fund
Insurance Policies
Unit-linked insurance plans (ULIP)
Pension schemes
Investments
Capital gains (Section 54 EC)
This is the gold, stock prices have increased as well. Sold will increase their profits. But as a long-term source of money gains tax ( capital gains tax) pay. But to do this is to avoid the law, specifically the section titled 54 EC. 54 Easy taxable capital gains tax if the tax burden on investment from these benefits, avoid prolonged bonds. Accordingly, gold, shares, Places, the house is sold, such as the need to invest in bonds, the benefits of the capital gains tax. This should not be making it back to a three-year bonds reinvested. However, the interest on these bonds are considered to be income.
Section 80
Rajiv Gandhi Equity Savings Scheme has been made available under the new Section 80. It only applies to those investing in the stock market for the first time. Under this scheme, a maximum investment of Rs 50,000 to Rs 25,000, which means that half of the tax revenue to reduce the income tax efiling. The tax benefits for three years in a row to get through investment in three years. It does not apply to those who have completed twelve million annually.
Costs
For the house (section 80 C, 24 B)
Two sections of the tax benefit by taking a bank loan to build the house. ... We pay loan instalments and how they refiling income tax some original, some will be of interest. Both in relation to the purpose of the tax is calculated separately. The actual amount paid under the sea under Section 80 of the exception can get a maximum of Rs .1.50 lakh. However, insurance premium tax the interest rate will be higher than the original early repayment in instalments. Hence the interest under Section 24 (b), one can get the maximum tax deduction of up to Rs 2 lakh. 80 See, in addition to it. What the rest of the savings, term insurance or not, none of the household per year to a maximum of income tax filing 3.5 million tax benefit overall.
For Read (See Section 80, 80 of these)
Income tax refund status for the tax deduction for the cost of education. For this purpose See Section 80, Section 80 of these are available. Tuition Fee-tax profit of 80 to get the school fees under the sea. It is, however, only two children in the family ... income tax return form it also covers up to 80 lakh under the sea. Read his income tax calculator, to take his family to pay the loan instalments higher education is the sum of the interest tax deduction under Section 80 can get this. The interest rate cuts, there is no cap. However, the tax deduction is available only to interest payments. There is no excuse at all. As well as the maximum 8-year-old to get these exceptions. Eight years after receiving the loan interest paid under Section 80 of these exceptions are not available income tax slab.
Health (Section 80 D )
Online income tax return insurance to cover such unexpected costs. Insurance is not meant for the treatment of, for medical tests, medication ... for all these countries, with the exception of the costs of the tax. Mainly under Section 80 D, 80 universal health care offer this convenience. medical exemption under income tax...
Health insurance (80 D): Health insure healthcare marketplace the premiums paid are exempt under Section 80-D. It is up to a maximum of Rs 15,000 to Rs 20,000, while senior citizens will be .... As well as medical insurance for parents to take an additional Rs 15,000 (Rs 20,000 for senior) available for the purpose. In addition, from this year, as a prophylactic measure to undergo medical tests to be considered for tax deduction up to a maximum of Rs 5,000. Parents, family how to tax return applies.
The cost of treatment (80): some of the major diseases treated under Section 80 tax benefit of up to a maximum of 40,000. Exceptions are listed in detail in this section is available with which to treat the disease. medical bills tax exemption up to Rs 60,000, while the Senior Citizens. This is a case of health remedies by the Health Insurance If you do not get the tax benefit.
If the disability ... (80 U): You pay the tax in accordance with Section 80 if the person with disability can be exceptions. The exception to this will depend on the intensity of the disabled. If the income of Rs 50,000 from the general level of disability rebate on income tax slow. With the exception of Rs 75,000 has been shown to have the same intensity.
For dependent ... (80 : Disabled on you if they (parents, family members, the brothers) may be exempted under Section 80. However, a similar disability to a maximum of Rs 50,000, Rs 1,00,000 to the same extreme medical expenses maximum income slow. The doctor's certificate is required. LIC Jeevan premiums paid by the policy are also covered in this section.
Donations (Section 80 G)
Section 80 of the Income Tax Act, some of the donations income tax planning. The exception applies in relation to donations, many of the provisions of Section 80 jilo. Some of the donations are fully 100 percent reduction (deduction) if only 50 per cent of Protection Fund, the Prime Minister or the Chief Minister's Relief Fund, the National Foundation for Harmony, Mission District, the National Technology Fund donations that are given to them without any limitations can be completely 100 percent of the exceptions . However, 10 per cent of the gross salary deductions apply only to donations.
House Rent (Section 10 (13 no))
If the employees of the company house rental allowance (care) provides vacation home rentals. claim they can live without reduce the tax burden. Most of the employees and the use of only one of the family members. These three factors are taken into account in computing the . They are ...
1- to 40 percent of salary;
2- The owner of a given amount of allowances
3 Salary paid minus the amount of houses apartments for rent seeing the above-mentioned three of which exist in most low-exempt.
Pay to get the tax benefits, especially in a section that most people do not know that. According to Section 80 do not have the convenience of professionals, as businesses take advantage of this. salary paid minus the rest of this, your income, up to a maximum of 25 percent or Rs 2,000 per month, but may be an exception. The only exception to this applies, whichever is less. In order to get the benefit of staying in the town or on the name of your wife, children should not be in As well as any other tax related to home utilities can not be obtained.
See Section 80 tax breaks are important. Many savings schemes, within this section because it is likely that many people are unable to fully, insurance, National Savings Certificates, fixed deposits, tax saving funds, tuition fees, as many of the original elements of the house to pay off loans fall under Section 80 Sea.
One of the benefits available under the current conditions uses a is forfeit. Engineering and medical education tuition and fees at a time when millions to reach the bottom of the Sea of 80 other benefits. Such time limit under Section 80 lakh to Rs 1.5 lakh raised by the Sea. The savings from this year to further reduce the tax burden. This is the only time in just six months longer to get additional benefits.
In this context, the increased benefits under Section 80 C max out once utilized in any way ..Housing loan ...For those who take a new home loan, for those who have already taken a big increase in the limit under Section 80 C were relaxed. to pay principal, interest, rather than the amount paid to reduce the tax burden of 80 points under the sea. If this amount from last year to this year, with an additional Rs 50,000 million.
Home prices increased production costs in the wake of this decision is your lucky day. Besides paying the interest, which comes under Section 24 of the tax exemption limit to Rs 1.5 lakh to Rs 2 lakh have been increased. Overall this year, they are taken from the household debt-to-income lakh in addition to reducing the tax burden to an extent.
Tax Saving Funds
Income tax savings See Section 80, which is the limit on the stock markets during the boom in demand by increasing the tax saving mutual . This year Equity Linked Savings Scheme (ieleses-tax saving funds) in the investment made available to the tax benefits. The figures showed an increase in the number of those investment projects. The inherent risk in the stock market ready, they will want to get a high return than bank deposits can comprehend.
TOP Best Tax Saving Funds List:
Tata tax saving fund
canara robeco equity tax saver
axis mutual fund
idfc mutual fund
birla sun life
idbi mutual fund
uti mutual fund
The main attraction of the tax-saving schemes having a period less than lock Da, the return will not have any tax burden. Ever pulled out three years after the investment. Already on the market this year because the maximum amount of the investment at a time, rather than seeking to invest a certain amount in the next 6 months to a plan to reduce the risk to some extent.
Public Provident Fund
For those who want to get a steady income without any risk of Public Provident Fund is very flexible. It is a 15-year-old long-term investment tool. This scheme provides 8.7 per cent interest. Until last year, the scheme could invest up to a maximum of Rs one lakh. See Section 80 has now raised the limit to the extent that the increase in the limit recently released the provident fund balance.
Fixed deposits
Over a period of five years, the tax benefits are available for fixed deposits. These can also invest up to a maximum. These are ideal for those who want to get a steady income without any risk. Many banks are already long-term deposit rates of inflation approximately one per cent of the limit. This is more likely to drop in the coming years due to the tax-exempt interest rates as much as they want to get better fast, high interest rates offered to depositors in banks.
The new pension scheme the total amount of investment in the Sea of exceptions can be found in Section 80. Also, lower operating costs compared to other pension plans. Furthermore, the investment could be found for the pension. Apart from this, the Senior Citizen Scheme, stamp duty, registration charges also show a tax credit under Section 80 C can be obtained.
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