How to Save Tax on Salary Above 5 Lakhs
How to save tax? By using tax saving tips – Standard Deduction (Rs. 50,000), HRA, Section 80C (Rs. 1.5 Lakhs), 80D (Rs. 50,000), 80CCD(1B) (Rs. 50,000)..
How to save tax? By using tax saving tips – Standard Deduction (Rs. 50,000), HRA, Section 80C (Rs. 1.5 Lakhs), 80D (Rs. 50,000), 80CCD(1B) (Rs. 50,000)..
Superannuation Fund is a type of pension fund that helps salaried employee to save for his retirement. Employer contributes 15% of Basic Pay which is part of CTC.
Post Office Interest Rates Table January 2023.. Fixed Deposits=6.6%, Recurring Deposits=5.8%, National Saving Certificate (NSC)=7.0%, PPF=7.1%..
Important Deductions Allowed for Tax Payers include Section 80C (Rs. 1.5 Lacs), Section 80CCD(1B) (Rs. 50,000), HRA, Section 24 (Rs. 2 Lacs).
PPF Interest Calculation.. you get ₹ 3,15,572 as maturity amount with 7.1% interest rate in PPF for 15 years and Rs. 1000 monthly deposits..
Best Index Mutual Funds for 2023 include – IDFC Nifty 50 Index Fund, Motilal Oswal Nifty Smallcap 250 Index Fund, DSP Nifty 50 Equal Weight..
Facts about Income Tax Calculation.. From selecting between Old Tax Regime or New Tax Regime, Tax Rebate in Section 87A to Cess of 4%..
SIP vs Step up SIP Returns.. You get Rs. 6 Lacs more profits in Step up SIP compared to normal SIP just with Rs. 500 increase in SIP every year..
FD interest calculation is done on monthly basis using monthly interest rate & is compounded quarterly. You get Rs. 19,530 FD maturity amount after 10 years
Standard Deduction limit is Rs. 50,000 for 2023-24. Example: Gross income = Rs. 6,00,000, Std Deduction = Rs. 50,000, Taxable Income = Rs. 5,50,000..