Tax optimiser: Despite not having HRA component, Sharma can save tax by claiming exemption on rent paidSharma lives on rent but doesn’t claim exemption because his salary does not have an HRA component. Taxspanner says that he can claim exemp...
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 ...
Will interim Budget 2019 reduce your tax?Rumours are rife that the government will try to woo the middle class with major tax cuts in its last Budget before the polls.
Claiming tax deduction on rent paid via Sec 80GGSection 80GG of the Income Tax Act allows claiming of tax deduction for the house rent paid for a self-employed or salaried person who has ...
Filing income tax return? Don't miss these 9 tax breaksYou can claim deductions you might have failed to while submitting your investment declarations. Read on to see how you can maximise your t...
Tax Optimizer: Why salaried Verma should get employer to stop HRA to save taxTaxspanner estimates that Sujeet Verma can reduce his tax by more than 50 per cent if his salary structure is tweaked a bit.
ET Wealth’s ideas that found place in Budget 2016ET Wealth had come up with 25 Budget ideas for the FM’s team to consider in its draft proposal. Looks like they were listening, but only pa...
What industry experts want from Budget 2016As the Finance Minister and his team start work on the Budget, here are some suggestions from experts that are worth including in the draft.
Check out these lesser known deductions before filing your tax returnIncome from investments in the name of your child would normally be clubbed with your income, but this is not so if the child is disabled.
Budget 2015: Arun Jaitley may find it expensive to fulfil taxpayers' wishesA Rs 10k hike in basic exemption translates into a loss of Rs 3k cr to the exchequer and Jaitley needs to give every tax benefit or cut a s...
- Eight tax saving secrets you should know
The Income Tax Act 1961 is a voluminous piece of legislation. Hidden away are clauses that can benefit ordinary taxpayers-provided they kno...