CA Sakchi Jain Instagram – Save ₹60,000/- in taxes!💰
Tax planning season is here!
These deductions are applicable only if you opt for the old tax regime.
Section 80C is one of the most popular sections of the Income Tax Act.The maximum deduction under the section is Rs. 1,50,000.
Section 80D provides deductions for the premium paid towards the health insurance of self, spouse children, and dependent parents as well.
Note: While calculating the deduction under section 80D we have assumed that the age of the tax payer is less tha 60 years, therefore we have taken Rs. 25,000 as the deduction.
Taxpayers can save tax under section 80C as well as 80CCD by investment in NPS. Under section 80C, maximum investment in NPS up to Rs. 1,50000 is eligible for a deduction in any financial year. Section 80CCD provides for an additional deduction of up to Rs. 50,000 provided the taxpayer meets all the eligibility criteria set in this regard.
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#casakchijain #incometax #cbdt #taxsaving #incometaxdepartment #investing #return #deductions | Posted on 11/Mar/2024 18:00:46
