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TAX SAVING
Regarding income tax deduction ... Fincial year 2020-21, Gujarat Government Gr....
Not only Section 80c of the Income Tax Act but also these 10 types can save you from more income tax.
You will have to file an income tax return in the free - SBI gave relief to its customers.
There are many types of income tax exemptions on home loans, millions of rupees can be saved if there is information
HOME INTREST CERTI DOWNLOAD IN SBI ONLINE:- CLICK HERE
Not only Section 80c of the Income Tax Act but also these 10 types can save you from more income tax.
Tax savings on insurance premiums can be made under Section 80D.
Under E 80E you can avail tax exemption on education loans.
Generally people are aware of the income tax exemption available on 5 year field deposit or other savings scheme, but they are not aware of many other income tax exemptions. Because of this they cannot take full advantage of income tax exemption. Abhay Sharma, former Chairman Indore Chartered Accountant is telling you about some such sections of the Income Tax Act. With the help of which you can save tax.
Section 80C :-
Section 80C of the Income Tax Act is in fact part of the Income Tax Act, 1961. It mentions the means of investment in which an income tax exemption can be claimed by investing. Many people start investing to save tax before the end of the financial year. A deduction of Rs 1.5 lakh from your total income can be claimed under Section 80C of the Income Tax Act. To put it simply, you can deduct Rs 1,50,000 from your total taxable income through Section 80C.
Section 80D :-
Section 80D is a deduction on medical expenses. Taxes on medical insurance premiums paid for the health of oneself, family and dependent parents can be saved. Section 80D deduction limit of premium paid for self / family is 25 thousand rupees. For the premium paid for senior citizen parents, you can claim a deduction of up to Rs 50,000. In addition, health checks up to an additional limit of Rs 5,000 are also allowed and are included in the entire limit.
Section 80DD :-
If you are spending for the treatment of a person with disability, you can get tax exemption under this section. A person with a disability can have parents, wife, children, brother and sister depending on the person concerned. In the case of Hindu Undivided Family (HUF), the family can be any. The total deduction limit under this section is up to Rs. 1.5 thousand.
Section 80E :-
Section 80E provides interest deduction on education loans. The important condition associated with claiming such a deduction is that the loan must have been taken by a person or his spouse or children from a bank or financial institution for higher studies (in India or abroad). One can claim this deduction from the year in which the loan starts to be repaid and for the next 7 years (i.e. 8 years of total assessment) or before repaying the loan, whichever is earlier. !
Section 80EE:-
Section 80EE allows homeowners to claim an additional deduction of Rs. 50,000 (Section 24) on the interest on a home loan EM. However, the loan is Rs. 35 lakhs and the value of the property should not exceed 50 lakhs. In addition, a person should not have any other assets registered in his name at the time of loan approval. You can take advantage of tax breaks under
Section 80G :-
by donating to organizations working for social benefit. Under the section GoG of Income Tax, any person can get tax exemption on donations made to HUF or company to any fund or charitable organization. The condition is that the organization to which you make this donation must be registered with the government. In some cases deduction claims can be up to 100%, in some up to 509 or in some without a limit. Donations can be made by check / draft or in cash. But donations above Rs 2,000 will not get the benefit of tax deduction.
Section 80GG :-
If you do not get a House Rent Allowance (HRA) but you live in a rented house, you can still get a tax deduction on rent paid under Section 80GG of the Income Tax Act, 1961. An exemption of 60,000 (Rs. 5,000 per month) per annum is allowed under Section 80GG. You will not get the benefit of this section if you (or your spouse / child) own a home. You will need to fill out a 10BA form to claim the benefits of this section.
Section 80TTA :-
of Section 80TTA Income-tax Act, 1961 provides for deduction of up to Rs.10,000 on interest earned from savings account. This exemption is available to individuals and the Hindu Undivided Family (HUF). If the bank's interest income is less than Rs 10,000then full deduction will be allowed. However, if the bank's interest income is more than Rs 10,000, the subsequent amount will be taxable.
Section 80DDB :-
Under section 80DDB, income tax deduction is available on the amount spent on the treatment of serious and chronic illness of one of his dependents. An income tax payer can claim a deduction for the treatment of his parents, children, dependent siblings and wife. These include diseases such as cancer, hemophilia, thalassemia and AIDS. Usually this deduction is 40 thousand rupees. In the case of senior citizens, the deduction is Rs. Can be up to 1. For this, it is necessary to get a certificate from a doctor.
Section 80ccD :-
If you have availed the benefit of National Pension Scheme, you can avail income tax benefit up to Rs. 50,000 under Section 80CCD (19). This way you can get the benefit of tax exemption up to a total of Rs 2 lakh by combining Section 80 ccD (1B) and 80C.
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વર્ષમાં ફેબ્રુઆરી-માર્ચ મહિનો આવતા જ કરદાતાઓ (Tax exemption)નું ટેન્શન વધવા માંડે છે. તેમાં સૌથી વધુ સામાન્ય પગારદાર વર્ગમાં તેની ચિંતા વધુ જોવા મળે છે. જો કે સરકારે વધુ ટેક્સથી બચવા કેટલીક છૂટછાટ આપી છે. જેનો મોટાભાગના લોકોને ખ્યાલ હોતો નથી કાં તો યાદ રહેતું નથી.
બજેટમાં આપવામાં આવતી આ છૂટને સહારે કરદાતા કરછૂટનો લાભ લઇ શકે છે. તેના માટેમ31 માર્ચ સુધી કેટલીક ખાસ સ્કીમોમાં રોકાણ કરવું પડશે. કલમ 80C અને 80Dની અંગે લોકો ઉપરવટ માહિતી રાખતા હોય છે. પરંતુ તે ઉપરાંત પણ ઈન્કમ ટેક્સ એક્ટમાં એવી ઘણી કલમો છે, જેની મદદથી તમે ઈન્કમ ટેક્સમાં રાહત મેળવી શકય છે.
80C મુજબ કરછૂટ
સેક્શન 80C હેઠળ કુલ આવકમાંથી 1.5 લાખ રૂપિયાના કપાત (Tax exemption)નો દાવો કરી શકાય છે. ઉપરાંત ટર્મ ઈન્શ્યોરન્સ, 5 વર્ષની FD અને વરિષ્ઠ નાગરિક બચત યોજના સહિત અન્ય યોજનાઓમાં રોકાણ કરીને તેના પર ફાયદો મેળવી શકો છો.
મેડીક્લેઇમ દ્વારા ટેક્સ છૂટ મળશે
સેક્શન 80D તબીબી ખર્ચમાં કપાત માટે છે. વ્યક્તિ પોતાના માટે, પરિવાર અને આશ્રિત માતા-પિતા માટે લીધેલા મેડિક્લેઇમ માટેના હેલ્થ ઈન્શ્યોરન્સ પ્રીમિયમ પર ટેક્સ બચાવી શકે છે. સ્વયં/પરિવાર માટે ચૂકવણી કરવામાં આવેલા પ્રીમિયમ માટે કલમ 80D કપાતની મર્યાદા 25 હજાર રૂપિયા છે. વરિષ્ઠ નાગરિક માટે ચૂકવેલ પ્રીમિયમ પર 50 હજાર રૂપિયા સુધી કપાતનો દાવો કરી શકાય છે. તે ઉપરાંત 5 હજાર રૂપિયાની મર્યાદા સુધી સ્વાસ્થ્ય તપાસની પણ મંજૂરી છે અને તેને સમગ્ર મર્યાદામાં સામેલ કરવામાં આવી છે.
એજ્યુકેશન લોનના વ્યાજ પર છૂટ
સેક્શન 80E એજ્યુકેશન લોન પર વ્યાજ માટે પણ કરછૂટ (Tax exemption)છે. આ પ્રકારના કપાતના દાવા કરવા સંબંધિત મહત્ત્વપૂર્ણ શરતો એ છે કે લોન કોઈ વ્યક્તિ અથવા તેના પતિ અથવા બાળકો દ્વારા હાયર એજ્યુકેશન (ભારત અથવા વિદેશમાં) માટે બેંક અથવા નાણાકીય સંસ્થામાંથી લેવી જોઈએ. કોઈ આ કપાતનો દાવો તે વર્ષથી શરૂ કરી શકે છે જેમાં લોન ચૂકવવામાં આવે છે અને આગામી 7 વર્ષ સુધી અથવા લોન ચૂકવવામાં આવે તે પહેલાં, જે પણ પહેલાં હોય કરી શકે છે.
ભાડાના ઘર માટે ટેક્સ છૂટ મળશે
જો તમને હાઉસ રેન્ટ અલાઉન્સ (HRA) નથી મળતું પરંતુ તમે ભાડે મકાનમાં રહેતા હોવ તો પણ ઈન્કમ ટેક્સ 1961ની કલમ 80GG અંતર્ગત તમને આપવામાં આવેલા ભાડા પર ટેક્સ છૂટ મળી શકે છે. સેક્શન 80GG અંતર્ગત વાર્ષિક 60,000 રૂ. (5,000 રૂ. દર મહિને) મહત્તમ છૂટની મંજૂરી છે. તમને આ કલમનો લાભ નથી મળતો તો જો તમારી (અથવા તમારી પત્ની/બાળક)ની પાસે પોતાનું ઘર છે. આ કલમના ફાયદાનો દાવો કરવા માટે તમારે 10BA ફોર્મ ભરવું પડશે.
80DDB હેઠળ સારવાર ખર્ચ માટે રાહત
સેક્શન 80DDB અંતર્ગત તમે કોઈ આશ્રિતની ગંભીર અને લાંબી બીમારીની સારવારમાં ખર્ચ કરવામાં આવેલી રકમ પર આવક પર કપાત મળે છે. કોઈ આવક કરદાતા પોતાના માતા-પિતા, બાળકો, આશ્રિત ભાઈ-બહેન અને પત્નીની સારવારમાં ખર્ચ કરવામાં આવેલી રકમની કપાત માટે દાવો કરી શકે છે. તેમાં કેન્સર, હીમોફીલિયા, થેલેસેમિયા અને એડ્સ જેવી વગેરે બીમારીઓ સામેલ છે. સામાન્ય રીતે કપાત 40 હજાર રૂપિયા હોય છે. વરિષ્ઠ નાગરિકોના કેસમાં આ કપાત 1 લાખ રૂપિયા સુધી હોઈ શકે છે. તેના માટે મેડિકલ સર્ટિફિકેટ જરૂરી છે.
80DD હેઠળ વિકલાંગની સારવારના ખર્ચ પર
જો કોઈ વિકલાંગ વ્યક્તિની સારવાર પર તમે ખર્ચ કરી રહ્યા છો તો આ સેક્શન અંતર્ગત કર છૂટ (Tax exemption)મેળવી શકો છો. વિકલાંગ વ્યક્તિમાં માતા-પિતા, પત્ની, બાળકો, ભાઈ અને બહેન હોઈ શકે છે, જે સંબંધિત વ્યક્તિ પર આધારિત હોય છે. હિન્દુ અવિભાજિત કુટુંબ (HUF) કેસમાં ફેમિલીની કોઈપણ વ્યક્તિ હોઈ શકે છે. જો આશ્રિત સંબંધિ 40% અથવા તેનાથી વધારે પરંતુ 80% થી ઓછો વિકલાંગ છે તો આવકવેરામાં 75 હજાર રૂપિયા સુધીની છૂટ લઈ શકાય છે. જો સંબંધિ ગંભીર રીતે વિકલાંગ છે એટલે કે 80%થી વધારે તો ટેક્સ ડિડક્શન 1.25 લાખ રૂપિયા રહેશે. આ ક્લેમ માટે કોઈ માન્ય મેડિકલ ઓથોરિટીથી ડિસેબિલિટી સર્ટિફિકેટ જરૂરી હશે.
80CCD (1B) 50 હજારનો લાભ
જો તમે નેશનલ પેન્શન સ્કીમનો લાભ લીધો છે તો તમે સેક્શન 80CCD (1B) અંતર્ગત 50 હજાર સુધી ઈન્કમ ટેક્સનો લાભ લઈ શકો છો. આ પ્રકારની સેક્શન 80CCD (1B) અને 80C ઉમેરીને તમે કુલ 2 લાખ રૂપિયા સુધી ટેક્સ છૂટનો લાભ લઈ શકો છો.
હોમ લોનના વ્યાજ પર ટેક્સ છૂટ
સેક્શન 80EE મકાન માલિકને હોમ લોન EMIના વ્યાજ પર 50 હજાર રૂપિયા (કલમ 24)ની વધારાની કપાતનો દાવો કરવાની મંજૂરી આપે છે. પરંતુ તેની શરત એ છે કે તમારી લોન 35 લાખ રૂપિયાથી વધારે ન હોવી જોઈએ અને સંપત્તિની કિંમત 50 લાખ રૂપિયાથી વધારે ન હોવી જોઈએ. તે ઉપરાંત કોઈપણ વ્યક્તિની પાસે લોન મંજૂરીના સમયે તેના નામ પર નોંધાયેલ કોઈ અન્ય સંપત્તિ ન હોવી જોઈએ.
80EEA હેઠળ કઇ છૂટ
સેક્શન 80EEA અંતર્ગત હોમ લોનના વ્યાજ પર 1.5 લાખ રૂપિયાની વધારાની ટેક્સ છૂટ લઈ શકાય છે. જો કે, તેની પહેલી શરત એ છે કે ઘરની સ્ટેમ્પ વેલ્યુ 45 લાખ રૂપિયાથી વધારે ન હોવી જોઈએ. હોમ લોન 1 એપ્રિલ 2019થી 31 માર્ચ 2022ની વચ્ચે લેવામાં આવેલી હોવી જોઈએ. તેના માટે કાર્પેટ એરિયા 60 ચોરસ ફૂટથી વધારે ન હોવો જોઈએ. આ શરત મેટ્રો સિટી માટે છે. અન્ય શહેરો માટે કાર્પેટ એરિયા મહત્તમ 90 મીટર અથવા 968 ચોરસ ફૂટ હોઈ શકે છે.
There are many types of income tax exemptions on home loans, millions of rupees can be saved if there is information
Upon payment of principal under section 80C, income tax deduction of up to Rs 1.5 lakh is available. Under section 24b, tax deduction of up to Rs 2 lakh is available.
If you are thinking of buying a home and you are thinking of taking a loan for that, it is very important for you to know about the tax exemption you get on a home loan. You can get tax exemption on your loan under other sections including section 80C and 24 (b). CA Abhay Sharma (Former Chairman Indore Chartered Accountant Branch) is telling you about the tax exemption on home loan.
Section 80C
When taking out a home loan, you have to pay the principal at the beginning. Upon payment of principal under section 80C in any financial year, a deduction of up to Rs 1.5 lakh is available on income tax. In addition, under this section you can claim stamp duty, registration charge and other expenses incurred while purchasing the property for tax benefit. For this you can claim a limit of up to Rs 1.5 lakh in Section 80C. This can be done in the same year in which you have spent.
Section 24 (b)
Interest on home loans is divided into two categories - pre-construction interest and post-construction interest. For the interest paid during the period of completion of construction, under Section 24b of the Income Tax Act, Rs. Up to Rs 2 lakh tax deduction is available. There is no high limit to claim interest deduction on leased property. This deduction can only be claimed from the year in which the building is completed.
Often people take out a home loan for a property under construction and later get possession of it. But home loan repayment starts immediately after taking out a loan. Such persons can claim a tax deduction of up to 5 years (in 5 equal installments) on interest up to 5 years before construction is completed within section 24b. Keep in mind that there is a high limit of up to Rs 2 lakh only under the maximum section 24b, which can be claimed.
Section 80EE
Section 80EE allows homeowners to claim an additional deduction of Rs. 50,000 (Section 24) on the interest on home loan EMI. However, the loan is Rs. 35 lakhs and the value of the property should not exceed 50 lakhs. In addition, a person should not have any other assets registered in his name at the time of loan approval.
Section 80EEA
In last year's budget, an additional tax exemption of Rs 1.5 lakh was announced on interest payments on home loans taken between April 1, 2019 and March 31, 2020. The stamp duty value of the property for tax exemption under section 80EEA should be up to Rs 45 lakh. This discount can only be taken by a first time home buyer. In the Budget 2020 announced a few days ago, the benefit of this section has been increased for one year and now the benefit of tax exemption under this section will be extended till March 31, 2021.
Tax deduction on joint home loan
Both the borrowers can take interest deduction of up to Rs 2 lakh per annum under section 24b, while the principal amount can be deducted up to a maximum of Rs 1.5 lakh per annum under section 80C. Applying for a joint home loan will enable the borrower to avail various income tax benefits. However, both will be able to take the tax benefit separately only if they also have an owner with the app.
Regarding income tax deduction ... Fincial year 2020-21, Gujarat Government Gr....
During the financial year 2020-21, the employees / officers who are eligible for income tax, have to submit the details of their income as well as savings / investment in the accompanying form. This form along with their PAN number (Correct) is dated. By 20-11-2050, it is stated to send the relevant cash-1 or cash-2 branch of the department in such a way that it can be found accurately.
The following two options are given for calculation of income tax for the year assessment year 2021 (Fiscal Year 2020-21).
Option - “A” - (New Option)
Option - “B” - (Old Option)
> with If the sample self-assessment statement is not received by the said date, after deducting their income, assuming that they have not made any savings, deductible income tax will be deducted on a monthly basis for the period from December 2020 to February 2021.
>Employees / officers will have to invest the savings as shown in the self-assessment statement during the current financial year. If they fail to do so, they will have a personal responsibility.
> If additional income tax has to be deducted by the employee / officer due to change in savings, it will be deducted from the salary bill of the concerned employee officer for the month of February 2021.
3. Direct Recruitment Class-III and Class-III employees who are on temporary duty at the Establishment of the Minister, who have Income Tax PAN as well as those who file returns regularly, as well as those whose total annual income is Rs. 2,50,000 / - or more Employees who have Form no. In order to get 12, they have to send their self-assessment statement to the cash-1 / cash-2 branch within the stipulated time limit. Employees whose Self-Assessment statement is not found here, Form no. - 12 will not be entitled to receive. .
It has also come to the notice of the department that some employees / officers say that they will save / invest, but in fact such investment is not made by them, which is a very serious matter. Due to non-deduction of income tax deductible for this reason, the withdrawal and distribution officer of the department is responsible, but at the same time the concerned officers / employees are also indirectly responsible.
In order to avoid the above circumstances and not to face the causal notice of the Income Tax Department, the employees / officers who have to submit their proof of savings before the withdrawal and distribution officer of the department by 15-9-2021, otherwise they have not saved or invested. Assuming that, the deductible income tax will be deducted from the February 2011 salary.
Employees / Officers who have Total Gross Income of 4,50,000 / - or more (* 40,000 / - Standard Deduction du Chapter IV - A of Income Tax Act - 1961 excluding sulo suld) Must be sent to the branch. In addition, employees / officers who have not obtained Permanent Account Number (PAN) will have to obtain PAN immediately and submit the proof in writing to the concerned cash branch. In addition, the employees / officers who have obtained PAN should immediately submit a xerox copy of their PAN CARD to the concerned cash branch, otherwise they will not be given Form No. 16
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You will have to file an income tax return in the free - SBI gave relief to its customers.
In fact, State Bank of India (SBI) has facilitated the Income Tax return to the Yono App on Yono App for its customers. Its information has been given by tweeting SBI. The last date for filing the income tax return for the financial year 2019-20 (Assessment Year 2020-21) is December 31 2020.
CA service will also get SBI said in its tweet, but also ITR filing also, with Tax2Win on Yono, you file in the Income Tax Return Free. Also can also take the service of CA. For this service you have to pay a fee and it will start from rupees in 199. If you are having trouble filing return, you can help with 91 9660-99-66-55. Or email can be emailed to support@tax2win.in.
You will have to file an income tax return in the free - SBI gave relief to its customers.
How to Fill return:-
Thus, take advantage of the service:
- Most first to log in to Yono App on your mobile phone and click on 'Tax and Investment'.
- Here you will see Tax2Win, where you have to details for details Texpayers's Income
- Tax Department's website can file direct tax on https://www.incometaxindiafiling.gov.in/home.
- For him Texpeyers have to go to the website.
- To login in the e-filing process will have to enter the user ID, PAN card, password, birth date and captcha code Davy information.
You will have to file an income tax return in the free - SBI gave relief to its customers.
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1 Comments:
80ee deduction for ay 2021-22
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