How much tax can you save via these tax-saving investments, expenditures?

THE ECONOMIC TIMES Sat, Mar 07, 2020 | 11:54 AM IST Tax-saving guide

How much tax can you save via these investments, expenses? The amount of tax you can save via tax-saving investments and expenditures depends on the tax bracket you fall in after claiming all the deductions you are eligible for. Can NRIs save tax through health insurance bought in India? An NRI is allowed to buy a health insurance policy in India to secure their health as well as that of their family members. Most Indian health insurance policies provide treatment only within the boundaries of India. Risk-averse? NPS ticks all boxes for retirement, tax savings NPS leads a kind of a hidden existence as a great savings option due to the lack of a sales push. Those who know about it and are confident of the knowledge they have gained themselves use it enthusiastically. Savers have to understand its utility and start using it. Understanding how section 80C of the Income Tax Act works Eligible payments include life insurance premium, principal repayment of the home loan and children's tuition. 6 online tax-saving investments for late-starters The equity-linked savings scheme (ELSS) is a product where you can make online investments up till 3PM on the day when stock market is open. You can invest more than Rs 2 lakh in NPS to save even more tax Individuals investing in National Pension System (NPS) can claim tax benefit under three sections of the income-tax Act, namely - Section 80CCD (1), 80CCD(1b) and 80CCD (2). Here's how section 80CCD (2) of the Income-tax Act can help you save tax. Sukanya Samriddhi Yojana: Important watchouts before you invest The EEE status of the scheme may not be a good enough reason to invest in it. Read on to find out if you should put your money in the scheme or not. Quick tax-saving tips Here are tax breaks you can claim on various incomes and expenditures under different sections of the Income-tax Act, 1961 that can reduce your tax outgo. You can save over Rs 1 lakh in tax just via these 4 avenues The I-Tax Act, 1961 provides several avenues by way of deductions under different sections of the Act, to help one invest or make an expense to reduce the tax outgo. Double benefit: 6 tax saving investments with tax-exempt returns Here are 6 tax savers that will not only help you save tax but also help you earn tax-free income.

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