Interest earned on Saving Bank Account is Taxable subject to deduction under section 80TTA. What is Section 80TTA?Section 80TTA of the Income Tax Act 1961 provides a deduction in respect of interest earned on savings account. Who is eligible to Claim Deduction under section 80TTA?Deduction under section 80TTA is available only to Individual and HUFs […]
Deduction under Section 80TTA of the Income Tax Act 1961 Read More »
In the ever-evolving landscape of income tax deductions, Section 80EEB takes center stage by encouraging eco-friendly choices. This section caters to individuals who have opted for electric vehicles, providing a unique avenue for tax savings. Understanding Section 80EEB Eligibility Criteria: To be eligible for the deduction under Section 80EEB, the taxpayer must meet certain criteria.
Deduction Under Section 80EEB: Electric Vehicle Loan Tax Benefits Read More »
The Public Provident Fund is a government-backed savings scheme introduced in 1968 with the objective of promoting small savings among citizens and ensuring financial security during retirement. Administered by the Ministry of Finance, PPF offers an attractive interest rate, compounded annually, and comes with a lock-in period of 15 years. However, investors have the flexibility
Public Provident Fund, PPF, Basics about PPF, Features PPF Account Read More »
Introduction: In the pursuit of a healthier lifestyle, it’s not just your well-being that benefits; your financial health can also receive a boost, thanks to tax-saving opportunities on medical expenses in India. The Income Tax Act provides provisions that allow individuals to save on taxes while prioritizing their health. In this blog, we’ll explore the
Maximizing Health and Wealth: Tax Saving on Medical Expenses in India Read More »
