WebJan 27, 2024 · Public Provident Fund (PPF) PPF is a scheme provided by the government and the investment in it is eligible for deduction under Section 80C. You can invest as … WebAug 27, 2024 · I want to invest approx. ₹ 90,000 this year to save taxes under Section 80C. Which is the best option among PPF, ELSS mutual funds and five-year bank fixed deposit.
Exemptions under Chapter VIA of Income Tax Act 1961
WebApr 4, 2024 · Section 80C of the Income Tax Act, 1961; allows individuals to claim deductions on certain investments and expenditures. These deductions can help reduce your taxable income, effectively lowering the amount of tax you need to pay. In this article, we'll take a look at some of the investments that are eligible for tax deductions under … WebFeb 15, 2024 · EPF: EPF contributions are tax deductible up to Rs 1.5 lakh per annum under Section 80C. The EPF interest rate for FY 2024-18 was 8.55%. The EPF rate for FY 2024-19 has not yet been declared. EPF interest is exempt from tax. Investment Proof: Contribution to EPF or Employees Provident Fund is mandatory and done through the … crowe and dunlevy.com
Investment Proof Submission for Income Tax - Paisabazaar.com
Web2 hours ago · 1. Section 80C: under this section deductions in respect of. life insurance premium, contribution to provident fund, investment in public provident fund, deferred annuity, contribution to approved superannuation fund, unit linked insurance plan of the LIC mutual fund, units of mutual fund, notified pension fund, home loan account scheme, WebHere, the amount is locked in for 5 years. The maximum tax deduction allowed under Section 80C for a tax-saving FD is ₹1.5 Lakh on the principal amount. The returns of … WebEmployees’ Provident Fund (EPF) Under Section 80C of Income Tax Act, Employees’ contribution to the EPF account is also eligible for 80C deductions. Whereas, employer’s contribution remains free from tax but … crowe and co ortho