Paying income tax on the income that you earn is mandatory if you have earned income above the basic exemption limits in a financial year. The tax rate depends on your income level (a.k.a. income tax slab). Moreover, to reduce the burden of taxation, the Income Tax Act has also specified various tax-saving avenues. These tax saving investments which help in lowering your tax liability. Chapter VIA of the Income Tax Act contains a list of deductions under Section 80 which help you to cut down on your tax outgo.SEE DETAILS

 Life insurance is a very important component of your financial portfolio. It gives unparalleled protection in case of premature death. The sum assured promised under the plan takes care of financial responsibility in case of premature demise of the insured. Moreover, different types of life insurance plans fulfil different financial needs. If fulfilment of financial needs and insurance protection is not enough, life insurance also provides you tax benefits. In fact, when it comes to tax benefits, life insurance plans provide benefit both on the investment and also on theSEE DETAILS

Non-resident Indians (NRI) comprises of non-residents under FEMA and non-Indian citizens of Indian Origin (PIO). Thus NRIs can have three types of bank accounts: Non-resident Ordinary (NRO)Non-resident External (NRE)Foreign Currency Non-Resident (FCNR) Opening an NRO account An NRI can open an NRO (Non-Resident Ordinary) bank account at any point of time or can also change his existing bank account into an NRO account. A citizen of any other country can open an NRO account during his stay in India. But citizens of Pakistan and Bangladesh require prior permission of RBISEE DETAILS

Contents :- What is Section 80GG as per Income Tax Act? How to claim deduction under Section 80GG? What will be the quantum of deduction under section 80GG? Examples on section 80GG. Who can claim Deductions under this section? What is the information required for claiming deduction under section 80GG? FAQ’s House rents can become a real burden mainly in the metropolitan cities where getting a house on rent is difficult. Since the demand for the rented house is so high, the rent also getting skyrocketed with every passing day.SEE DETAILS

Contents :- What is the Senior Citizen Saving Scheme? Who is eligible to invest in this scheme? What is the investment limit under this scheme? What documents are required to open an account under the Senior Citizen Savings Scheme? Step-by-step process to open an account under the Senior Citizen Saving Scheme: How much interest is paid on the investments under this scheme? Maturity period and premature withdrawals Tax exemptions under this Scheme? Nomination facility under this Scheme? Other important information regarding the Senior Citizen Savings Scheme? As citizens, we haveSEE DETAILS

What is Public Provident Fund? Public Provident Fund (PPF) is a long term investment scheme which is popular amongst the masses. This scheme was introduced by the Government of India to promote savings. It offers an attractive interest rate, high returns along with several safety features. You are eligible for tax exemption under Section 80C Of The Income Tax Act. You can save a maximum of Rs. 1.5 lakhs under PPF in one financial year. Apart from tax rebate, you also get the opportunity to extend the maturity of your PPFSEE DETAILS