Wealth
All about Tax Saving
How to calculate income tax liability under new tax regime for FY 2021-22
As individuals are required to choose between the old and new tax regimes, it is im...
How to best take advantage of tax saving options under the old tax regime
Tax planning is an integral part of financial planning and this is why you should i...
How to double your tax saving through ELSS investment without any fresh funds
If you are short on funds to make an investment in ELSS mutual funds for the curren...
How to choose the best tax saving plan under the old tax regime
There are various ways to save tax under the old tax regime. However, the question ...
How to open SBI tax-saving FD scheme online to save tax
Interest rates on SBI FDs maturing between 5 and 10 years will be 5.5 percent for g...
- These banks are offering highest interest rates on tax-saving FDs
- TDS rates on salary, interest and other incomes for FY 2021-22
- Income tax slab rates in India for FY 2021-22 and 2022-23
- What are income tax rates and slabs under the new tax regime?
- PPF, NPS, SSY: Here's why you should make minimum deposit in these tax savers before March 31
- Tax deductions, exemptions not available in new tax regime
- What is TDS and how does it work?
Videos
New to the working world and tax-saving? Here's help
Many young earners are left confused as to what tax saving entails. In this video, ET Online sheds light on how young salaried taxpayers should handle the process, what tax saving investments and expenditures are available and the proofs they need to...
How to get a double benefit on your tax-saving this FY
While choosing the right tax saving option, besides factors such as safety, liquidity and returns, make sure you understand how the returns would be taxed. If the income earned is taxable, the scope to make money over the long run gets constrained. T...
Tax saving checklist: 5 facts you need to remember
January to March is the time when we finish our tax saving exercise. Have you calculated your tax liability correctly? Have you used the tax breaks offered under Section 80C? These are some critical questions you need to ask yourself while working...
How a salaried person with Rs 7.75 lakh income now pays z...
Going by the Budget 2019 proposals, a salaried individual with gross total income up to Rs 7.75 lakh can invest in various tax saving avenues and avail of different deductions to reduce taxable income to Rs 5 lakh and consequently pay no tax for FY20...
Slideshow
Optimise your tax planning: How to best utilise the tax deductions available
Here is a road map to make sure you are utilising all the tax-saving avenues available to you.
Using only 80C for tax saving? New tax regime may be beneficial for you at this income
An individual can opt for the old income tax regime and avail common tax deductions such as those available under section 80C, section 80D etc. of the Income-tax Act, 1961 for FY 2021-22. Else, the taxpayer can opt for the new, co...
How to save tax without fresh investments
Here is a look at expenses/deductions which can be used to reduce tax payable under the old tax regime.
Your senior citizen parents' medical bills can help you save tax: Here's how
Budget 2018 amended Section 80D of the Income-tax Act which allows a deduction for medical expenditure incurred on senior citizens. However, senior citizens must not be covered under any health insurance policy. Do keep in mind th...
How private sector employees can avail tax benefit in LTC Cash Voucher Scheme
Government has announced the LTC Cash Voucher Scheme for the central government employees which was later extended to the private sector employees as well. Here is how these employees can avail the tax benefit under the LTC scheme...
A quick guide on how to save tax in a financial year
For the financial year 2020-21, if you have opted for the old income tax regime, then there are many ways you can save tax. Here is how you can save tax by deductions allowed under the Income-tax Act, 1961.
7 lesser-known investments, expenditures eligible for tax breaks
Did you know you that can claim tax deduction on stamp duty? Here are other tricks that can help you cut tax.
How many tax-saving ELSS mutual funds should you have in your investment portfolio?
ELSS mutual fund schemes help individuals to save tax in a financial year. Experts insist that ELSS funds have a bigger role to play but they cannot be utilised for long term goals. Here is how you can pick the right one to comple...
Should you opt for the LTC cash voucher scheme? Here's how much tax you will save
Here is a look at how much you stand to gain by opting for the LTC cash voucher. This story will tell you about the rules of availing the LTC benefit and compare it to the conditions specified under the new voucher. Further, we wi...
How central government employees can avail benefit under LTC cash voucher scheme
Here is a look at the details of how central government employees can avail the LTC cash voucher scheme as per an office memorandum issued by the government on October 12, 2020.
These 4 lesser known tips can help you save tax
If you think your tax liability has been very high so far, follow these tips to bring it down and not pay more than necessary in future.
Five things about home loan tax incentives you should know
Even a loan taken from an employer, friend, private lender is eligible for deduction — but only on the interest and not principal. And you’ll need a certificate from the lender.
Prepay these common services to avail LTC Cash Voucher Scheme benefit
Services that attract more than 12 per cent Goods and Services Tax (GST) include TV DTH recharge (TATA Sky, Airtel Digital TV etc.), Internet broadband payments, mobile phone bills, health insurance premiums, purchases made on App...
Medical expenses that can be claimed as tax break under section 80DDB
The deduction under section 80DDB can be claimed irrespective of whether you have paid a premium for a health insurance policy or not. The deduction is available on the medical expenses incurred on specified diseases.
Tax on EPF interest will not impact these salaried people
If your current basic salary is up to Rs 1,73,611 per month and you are not contributing to VPF then you do not need to worry about the tax imposed by this budget. Majority of salaried individuals with current salary below this le...
PPF stays out of tax on EPF interest
“The cap is not applicable on PPF because there is already a limit of ₹1.5 lakh contribution in a year to PPF,” the official said. The government has proposed changing taxation rules for provident funds by levying income-tax on th...
Tax planning tips for professionals
Efficient tax planning can help in saving a good amount of money over the long run. With smart tax planning, you can enjoy your income to the fullest and achieve your financial goals as well.
NPS vs PPF investment: Where should you invest to save for your retirement?
If your retirement goal requires much higher contribution, then you can use PPF for the fixed income part of the portfolio and NPS for market-linked returns.
HRA Exemption Rules: How to save tax on House Rent Allowance
HRA exemption is available only to the salaried individuals (who have opted for the old tax regime). Self-employed professionals cannot avail this deduction. HRA exemption amount is deductible from one's total income before arrivi...
Voluntary Provident Fund (VPF) vs Public Provident Fund (PPF) - Which suits you better?
Both VPF and PPF carry sovereign guarantee and hence, there is no difference when it comes to risk. Both are considered to be safe fixed income investment options. The decision to invest should be based on one's goal and time hori...
How your parents, spouse and children can help you save tax
If your parents fall in the non-taxable or a lower tax bracket, you can invest in their names by gifting them money. Here are other ways you can invest, insure and save through your parents, spouse and children in a way that it re...
How senior citizens can avail tax break on interest income under Sec 80TTB
Section 80TTB offers deduction to senior citizens and super citizens on the interest earned from deposits held with a bank, post office or co-operative society. This tax deduction is available provided senior citizens opt for the ...
Can these deductions make you tax free?
Different sections under the Income-Tax Act correspond to different savings or expenses, some of which are eligible for tax deductions and could be a great way to show that you are actually out of the taxable bracket. Here are 8 s...
Why you should choose your tax saving options wisely
Some tax saving instruments may not be suitable for young professionals. Here's why.
How to save income tax via medical expenditures under sections 80D, 80DD, 80DDB, 80U
Medical expenditures for certain specified diseases provide tax benefits under the Income-tax Act. Section 80D, 80DD and 80DDB and 80U of the act provide tax benefits Here are rules you must know to claim tax benefits under the In...
You can save over Rs 1 lakh in tax just via these 4 avenues
The Income-tax Act, 1961 provides several avenues by way of deductions under different sections of the Act, to help one invest or make an expense to reduce the tax outgo. These deductions can help you save tax only if you opt for ...
4 expenses that can help you save tax under section 80C
If you do not have money to invest in specified schemes in section 80C such as PPF, ELSS etc., then there are certain expenses that can help you save tax in the current financial year. Do note that deduction on these expenses can ...
How to invest in tax saving mutual fund schemes
These schemes are equity-oriented schemes and are specifically designated as tax saving schemes known as equity linked savings schemes (ELSS).
Is your single premium life insurance policy eligible for tax benefits?
Until the ratio between the premium and the sum assured is met, you may not be able to avail tax benefits on your policy. The tax benefit on the premium paid on life insurance policy is available under the old tax regime for curre...
Don't rush to make last-minute tax-saving investments
Here are a few expenses that come with tax advantages and will help you neutralise your tax outgo for the current financial year. Do keep in mind that these expenses can help you save taxes for FY 2021-22, provided you are plannin...
Seven tax-saving investments for the risk averse
Here are seven fixed-income, tax-saving avenues for someone who does not want to take much risk with their investment and want just assured returns. These tax savers can help you save tax if you opt for old tax regime in current F...
What are the income tax exemptions and other monetary benefits available to women?
Up until FY 2011-12, women and men had different income tax slabs with women having to pay slightly less income tax. However, from FY 2012-13, this was done away with and tax slabs for men and women were made the same.
Investing in PMVVY LIC pension scheme will not help in tax saving
The scheme allows premature exit during the policy term under exceptional circumstances like the pensioner requiring money for the treatment of any critical illness of self or spouse. The last date to invest in PMVVY is March 31, ...
Understanding how section 80C of the Income Tax Act works
Eligible payments include life insurance premium, principal repayment of the home loan and children's tuition.
5 changes in Sukanya Samriddhi Scheme, 2019 that you need to know
Though there are no major changes in the new Sukanya Samriddhi Yojana scheme rules 2019, however, you should know about the small modifications that have been made. Here are five changes that have been made to the Sukanya Samriddh...
How to know which income tax slab you fall in?
As your income level increases, income at different levels will be taxed at different rates which are called the slab rates. To know how much is your income tax liability in a financial year, it is important to know which incom...
Here's a quick comparison of interest rates on tax-saving debt investments
But before you get down to choosing a tax saving investment you should probably first calculate how much you need to invest to save tax.
ELSS Vs PPF Vs FD - What works for you?
ELSS tax saving mutual funds have been getting traction in the past few years as individuals are becoming more aware.
Want a safe option to save tax and fund your retirement? Invest in PPF
Since the Public Provident Fund (PPF) has a long tenure of 15 years, the impact of compounding is huge, especially in the later years. Investment made in PPF is eligible for deduction under section 80C of the Income-tax Act, 1961 ...
Senior Citizens Savings Scheme saves tax, beats bank FDs: Here's all you need to know about it
Backed by the government, the scheme offers capital protection, along with quarterly interest payment as a source of income. Senior citizens can claim deduction under Sectio 80TTB on the interest earned from SCSS.
Don't forget to claim your LTA tax exemption this year: Here is how
LTA exemption is available for 2 journeys in a block of 4 yrs. While the current block is 2022-25, one can undertake three journeys in the current block provided only one journey was undertaken in the last block (2018-2021) and no...
6 online tax-saving investments for late-starters
The equity-linked savings scheme (ELSS) is a product where you can make online investments up till 3PM on the day when stock market is open.
Investments under section 80C to save tax
Most people invest in life insurance policies, PPF, ELSS in order to avail this deduction, but there are other options too worth considering. Do note that investments/expenses under section 80C is eligible for deduction provided y...
Tax-saving for young earners simplified
If you are a young earner and confused about how to do tax-savings, then here's how you can save on tax without locking away your money in long-term investments and without putting a dent in your wallet. Do note commonly availed t...
Post tax, Rs 5 lakh income will be higher than Rs 5.16 lakh: Here's why
If your net taxable income exceeds Rs 5 lakh by even Re 1 then you will be ineligible to avail a tax rebate.
Sukanya Samriddhi Yojana: Important watchouts before you invest
The EEE status of the scheme may not be a good enough reason to invest in it. Read on to find out if you should put your money in the scheme or not.
Check these 7 tax savers before you invest again
It's always better to plan your tax saving investments in advance than make the wrong moves at the fag end of the financial year. Remember to compare your tax liablity in both the tax regimes and check exisiting tax savers before ...
Double benefit: Here are 6 tax saving investments with tax-exempt returns
Here are 6 tax savers that will not only help you save tax but also help you earn tax-free income, subject to certain conditions. Do note that if you opt for new tax regime in current FY, then these tax-savers will not help you in...
More on Tax Saving
Sukanya Samriddhi Yojana (SSY): Tax benefits, Interest rate, Eligibility & Benefits
7 tax saving investments that can be done online to save time
Best ELSS funds for tax saving investments now
Tax-saving plan must be for full year
How to pick the right ELSS for tax saving
How to make Rs 10 lakh income fully tax free
9 income tax saving tips that also help financial fitness
Invest more than Rs 1.5 lakh in ELSS mutual fund to claim full benefit under section 80C: Experts
What is the last date of completing tax-savings investments?
Last date for your tax saving investment may be before March 31: Here's why
Buying a term plan for tax saving? Don’t make these costly mistakes
Comparison of interest rates on tax saving debt investments
How to save tax via NPS by investing Rs 50,000 additionally
How to invest in ELSS mutual fund schemes to save tax
How to get a tax deduction of up to Rs 9.5 lakh just by investing in NPS
Do you really need to make a new tax saving investment? Check before you invest
Tax saving: How section 80C of the Income-tax Act works
Ulip vs mutual fund: Tax implications, charges and more
5 tax-saving investment avenues under Section 80C
How to maximise tax-saving on equity investments before the FY ends
7 reasons why PPF is one of the most preferred tax saving investments
Tax benefits on home loan that you need to know about
