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Sqrrl- Section 80C

Tax benefit under Section 80C allows individuals and HUFs to claim a tax deduction of up to Rs 1,50,000 from their gross total income for certain investments and payments. Tax benefit under section 80 C helps to claim benefits up to 1.5 lakh. Learn more about income tax benefits under section 80C as per the income tax act, 1961. Check here.

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Sqrrl- Section 80C

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  1. Section 80C – Best Ways of Making Tax Benefit Investment Tax benefit investment plans are instrumental and effectively achieving your financial goals. The various Investment schemes that are available in the market provide tax exemptions and tax deductions. Learn how to reduce your tax burden by investing in the tax saving schemes at the right time. Choose the one best suited to you from various tax saving mutual funds to claim tax exemptions and tax deduction under section 80C. Tax Benefit Investment - Investments in Tax Saving FDs Tax-saving FDs are like fixed deposits but come with a lock-in period of 5 years and tax break under Section 80C on investments of up to Rs 1.5 lakh. Eligibility: Can be opened by resident Indian individuals. Liquidity: Fixed Deposits have a lock-in period of 5 years. Rate of interest:FD interest rate ranges from5.5% to 7.75% Investment Limit: Minimum investment limit is Rs 1000. Tax Treatment: Interest earned is taxable. Tax Benefit Investment - Investments in PPF (Public Provident Fund) Eligibility: Any resident Indian individuals can open this, salaried and non-salaried individuals. Liquidity: PPF has a lock-in period of 5 years but can be extended by 5 years. Rate of interest: Interest rate is 8.0% p.a. Investment Limit: Minimum investment limit is Rs.500, and the maximum is Rs.1.5 lakh, respectively. Tax Treatment: Tax-free.

  2. Tax Benefit Investment - Investment in EPF (Employee Provident Fund) Eligibility: Can be opened by any employee of India whose basic salary is higher than 15,000/month Liquidity: Can withdraw PF balance after 2 months of job and does not take up employment within 2 months with an employer covered by PF Act. Rate of interest: Current Interest rate on the EPF is 8.55% Investment Limit: Both the employee and employer have to contribute a minimum of 12% of basic pay + D.A. Tax Treatment: The entire Provident Fund balance (including interest) is tax-free if withdrawn after continuous service of 5 years Tax Benefit Investment - Investment in NPS (National Pension System) Eligibility: Any Indian citizen can open it who are between the age of 18 and 60 Liquidity: Partial withdrawals are allowed after 15 years. Rate of Returns: Returns rate on the NPS varies between 12%-14% Investment Limit: No limit. Tax Treatment: Tax-free. Please check out the Sqrrl app. It provides the best tax benefit investment plan under Section 80C through its app. Get the highest profit with little investment through the Sqrrl app. Download it now! Download it now!

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