Welcome to our detailed tutorial to the use of ITR forms! When it comes to completing your income tax return in India, you must select the appropriate form based on your income sources and other important information. Understanding the various ITR forms,...
Medical Insurance Premium plays a significant role on tax planning and financial planning. It would not be wondering that all taxpayers can claim a deduction of INR 1 Lac through Section 80D of the Income Tax Act, 1961....
In the labyrinth of tax-saving avenues, House Rent Allowance (HRA) stands out as a beacon of relief for salaried individuals. Under Section 10(13A) of the Income Tax Act, 1961, HRA offers significant deductions, provided certain conditions are met. Unders...
In the realm of tax-saving strategies, the Hindu Undivided Family (HUF) stands out as a lesser-known yet powerful tool. Often overlooked, an HUF offers a plethora of tax benefits that can significantly reduce your tax burden. This comprehensive guide will...
House Rent Allowance is a major portion of your salary. It is provided to the employees by an employer or company to enable them to bear the expenses incurred on house rent. The following are the conditions by which an employee’s HRA will not be taxed,...
In the realm of personal finance, saving bank accounts stand as fundamental instruments for individuals to park their savings securely while earning modest returns. Despite the rise of various investment avenues, saving bank accounts retain their signific...
The dream of owning a home is a significant milestone for many individuals and families worldwide. However, the financial aspect of purchasing a home can be daunting, often requiring substantial investment. Home loans, with their associated interest rates...
When it comes to managing your finances, every penny counts. Whether you're saving up for retirement or planning for your future, knowing how to make the most of tax-saving opportunities can significantly impact your bottom line. One such opportunity that...
In the realm of Indian taxation, various sections of the Income Tax Act offer taxpayers opportunities to save on their tax liabilities through deductions. One such section is 80TTA, which pertains specifically to the interest earned on savings accounts. T...
