WebThe most popular tax-saving options available to individuals and HUFs in India are under Section 80C of the Income Tax Act, Section 80C includes various investments and … WebUnder Section 80EEA, first-time home buyers investing in affordable homes in India get Rs 1.50 lakh income tax deductions on home loan interest payment.The benefits of Section 80EEA are applicable only if they buy an affordable property (worth up to Rs 45 lakh) with the help of a home loans.The applicability of Section 80EEA is valid on home loans …
Life Insurance Tax Benefit in 2024 - Max Life Insurance
Web5 mei 2024 · ii. 50% of (Basic salary + DA) for living in Metro Cities (40% for Non Metro Cities). iii. Actual Rent paid less 10% of Basic Salary + DA. Let us understand with the … Web13 mrt. 2024 · Hence, Somani explains few factors which will help you understand the tax benefits on fuel and car allowances. Let’s find out! 1. Car is used exclusively for official purposes. When an employee uses a car exclusively in the performance of official duties, all of the amount spent on fuel, car maintenance and driver’s salary is fully tax-exempt. come and see notre dame folk choir
Comparison of new income tax regime with old tax regime
Web21 feb. 2024 · Section 80TTA of the Income Tax Act, 1961 offers a deduction of up to Rs 10,000 on income earned from savings account interest. This exemption is available for … Web97 rijen · The balance amount (point 3-point 4) is taxable value of perquisite. Nothing is taxable if: a) Loan in aggregate does not exceed Rs 20,000. b) Loan is provided for treatment of specified diseases ( Rule 3A) like neurological diseases, Cancer, AIDS, … Web21 feb. 2024 · Investing money in tax-saving instruments. The government encourages citizens to invest in the tax-saving investments mentioned under section 80C of the Income Tax Act in order to reduce their tax burden. In this way, you can make sure you have some sort of investment and stop worrying about spending excessive money on paying taxes. come and see sheet music