Tax Benefit

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Manager Accounts
29 Points Posted on 08 January 2021
Are there any tax benefit investment
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On 08 January 2021 at 13:00 Report
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Quick Summary
This discussion explores various tax-saving investment options available under Section 80C and 80CCD of the Indian Income Tax Act. Participants discuss Public Provident Fund (PPF), National Pension System (NPS), tax-saving Fixed Deposits, and other avenues like NSCs and ULIPs. The discussion also touches upon the investment limits for 80C and 80CCD, and where to find tools for calculating tax liability.

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107 Points Posted on 08 January 2021
PPF sec 80C
1 Reply
On 08 January 2021 at 13:32
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Manager Accounts
29 Points Posted on 08 January 2021

Thank you Rahul...What about investing in NPS, is it a good option.

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On 08 January 2021 at 13:39
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Chartered Accountant
16188 Points Posted on 08 January 2021
Nps is exempt under section 80CCD
1 Reply
On 08 January 2021 at 13:58
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10683 Points Posted on 08 January 2021
Tax saver bank FD is also there.
1 Reply
On 08 January 2021 at 14:16
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Manager Accounts
29 Points Posted on 08 January 2021

Thank you all, Could you please suggest what is the amount limit in 80C and 80CCD

 

 

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On 08 January 2021 at 14:41
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Accountant
1331 Points Posted on 08 January 2021
Under 80c for PPF and tax saving mutual fund
3 Reply
On 08 January 2021 at 16:02
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Chartered Accountant
16188 Points Posted on 08 January 2021
150000 rupees is the limit
1 Reply
On 08 January 2021 at 16:59
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Accountant
1331 Points Posted on 08 January 2021
Yep 150000 is limit IN 80C n 50000 for NPS ALSO
1 Reply
On 08 January 2021 at 17:01
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Manager Accounts
29 Points Posted on 08 January 2021

Thank you all for your response on the above query.....

1 Reply
On 08 January 2021 at 20:45
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Accountant
1331 Points Posted on 09 January 2021
Other Investment Options under Sec 80C

Tax Saving Fixed deposits.

PPF – Public Provident Fund.

EPF – Employee provident fund.

NPS – National Pension System.

NSC – National Savings Certificate.

ULIP – Unit linked Insurance Plans.
1 Reply
On 09 January 2021 at 15:47
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Manager Accounts
29 Points Posted on 09 January 2021

Is anybody knows.....Is there any Excel software available where I can calculate my tax liability automatically if I enter the amount or is there any online software available to calculate personal tax for 2020-21... Please let me know

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On 09 January 2021 at 16:47
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Accountant
1331 Points Posted on 09 January 2021
There might be many Excel format on Google you can go and search there
1 Reply
On 09 January 2021 at 22:12
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10683 Points Posted on 11 January 2021
I think calculator, to know tax under new and old scheme of taxation is available on efiling site.
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On 11 January 2021 at 11:58

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