Deduction On Interest
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Union Budget 2025: Experts Hope Government Will Simplify Process Of Claiming Tax Benefits For Education Loans
Section 80E allows individuals to claim deductions on interest paid for loans taken for higher education, including studies abroad.
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High Court Seeks Centre's Reply Over Accident Compensation Tax Provision
The Delhi High Court has sought the response of Central Board of Direct Taxes (CBDT) on a plea seeking quashing of the provision mandating tax deduction on the interest received on compensation by a road accident victim.
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Budget 2019: Electric Vehicles To Get More Affordable
The NDA 2.0 government made some major announcements for pushing electric mobility in India as part of the Union Budget 2019. While the Indian auto sector did not witness any dramatic changes in tax norms, Finance Minister Nirmala Sitharaman recommended reducing the GST rate on electric vehicles from the current 12 per cent to five per cent in a bi...
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Additional Tax Deduction Of Rs 1.50 Lakh On Interest On Home Loans Proposed
Nirmala Sitharaman also proposed that 25 per cent corporate tax will apply on companies with up to Rs 400 crore turnover; covering 99.3 pc of corporate India.
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Budget 2019: Government Recommends Reduction Of GST From 12% To 5% On Electric Vehicles
The Union Budget for 2019 has been announced and Finance Minister Nirmala Sitharaman made a number of promises for the overall development of the country's economy. While there haven't been major incentives for conventional vehicles in the auto sector, the government has recommended changes to the Goods Services Tax (GST) council for electric vehic...
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Blog: Higher EPF Returns Could Mean That You Pay More In EMIs
When the EPFO pays you more on the mandatory deduction from your salary, you might end up paying more in terms of EMIs. To top it, you will enjoy the benefits of a higher EPF interest rate only after you retire, you will feel the pain of higher EMIs right now.
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SBI Tax Savings Scheme Offers Deduction On Deposits Up To Rs 1,50,000. Details Here
SBI tax savings scheme does not have specific rate of interest and is similar to that of fixed deposits.
-
Income Tax Benefits On Education Loan Repayment: 5 Things To Know
The income tax deduction on education loan is only available for up to eight years or until the payment of interest in full, whichever is earlier.
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State Bank Of India (SBI) Public Provident Fund (PPF) Accounts: 10 Points
State Bank of India, the largest lender in the country allows customers to invest in public provident fund (PPF) accounts. SBI allows customers to open PPF accounts under the Public Provident Fund (Amendment) Scheme, 2016. The scheme was introduced by the National Savings Organization in 1968 to mobilize small savings. It offers an investment avenu...
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Public Provident Fund (PPF) Accounts To Offer More Benefits: 10 Points
PPF or public provident fund is one the most popular saving schemes. Apart from higher interest rates compared to bank deposits, PPF also offers a host of income tax benefits. In terms of income tax implications,PPF enjoys an EEE - exempt, exempt, exempt - status. This means the contribution, interest and maturity proceeds are all tax-free. PPF con...
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Senior Citizens Receive Gifts Galore In Budget 2018. Five Things To Know
Senior Citizens will stand to enjoy higher exemption of interest income on deposits they have with banks and post offices
-
Income Tax Slabs, Rates And Useful Deductions To Know
The government may tweak income tax slabs and rates to bring down the burden on individuals, according to a survey by tax and advisory firm EY.
-
Latest Interest Rate On PPF, Income Tax Benefits, Withdrawal, Loan Facilities And Other Details
PPF account holders need to make minimum deposits of Rs 500 in a year. The maximum deposit allowed in a year is Rs 1.5 lakh.
-
FD Interest Rates: SBI Vs ICICI Bank Vs HDFC Bank Vs Kotak Mahindra
Fixed deposits or FDs are popular saving instruments, which not only help you save money but also offer income tax (I-T) deduction (on long term FDs).
-
House Renovation Cost: Can You Claim Income Tax Deduction?
For self-occupied house, if you have taken a home loan for renovation, you can claim deduction on the interest component. The deduction is capped at Rs 30,000 a year.
-
Union Budget 2025: Experts Hope Government Will Simplify Process Of Claiming Tax Benefits For Education Loans
Section 80E allows individuals to claim deductions on interest paid for loans taken for higher education, including studies abroad.
-
High Court Seeks Centre's Reply Over Accident Compensation Tax Provision
The Delhi High Court has sought the response of Central Board of Direct Taxes (CBDT) on a plea seeking quashing of the provision mandating tax deduction on the interest received on compensation by a road accident victim.
-
Budget 2019: Electric Vehicles To Get More Affordable
The NDA 2.0 government made some major announcements for pushing electric mobility in India as part of the Union Budget 2019. While the Indian auto sector did not witness any dramatic changes in tax norms, Finance Minister Nirmala Sitharaman recommended reducing the GST rate on electric vehicles from the current 12 per cent to five per cent in a bi...
-
Additional Tax Deduction Of Rs 1.50 Lakh On Interest On Home Loans Proposed
Nirmala Sitharaman also proposed that 25 per cent corporate tax will apply on companies with up to Rs 400 crore turnover; covering 99.3 pc of corporate India.
-
Budget 2019: Government Recommends Reduction Of GST From 12% To 5% On Electric Vehicles
The Union Budget for 2019 has been announced and Finance Minister Nirmala Sitharaman made a number of promises for the overall development of the country's economy. While there haven't been major incentives for conventional vehicles in the auto sector, the government has recommended changes to the Goods Services Tax (GST) council for electric vehic...
-
Blog: Higher EPF Returns Could Mean That You Pay More In EMIs
When the EPFO pays you more on the mandatory deduction from your salary, you might end up paying more in terms of EMIs. To top it, you will enjoy the benefits of a higher EPF interest rate only after you retire, you will feel the pain of higher EMIs right now.
-
SBI Tax Savings Scheme Offers Deduction On Deposits Up To Rs 1,50,000. Details Here
SBI tax savings scheme does not have specific rate of interest and is similar to that of fixed deposits.
-
Income Tax Benefits On Education Loan Repayment: 5 Things To Know
The income tax deduction on education loan is only available for up to eight years or until the payment of interest in full, whichever is earlier.
-
State Bank Of India (SBI) Public Provident Fund (PPF) Accounts: 10 Points
State Bank of India, the largest lender in the country allows customers to invest in public provident fund (PPF) accounts. SBI allows customers to open PPF accounts under the Public Provident Fund (Amendment) Scheme, 2016. The scheme was introduced by the National Savings Organization in 1968 to mobilize small savings. It offers an investment avenu...
-
Public Provident Fund (PPF) Accounts To Offer More Benefits: 10 Points
PPF or public provident fund is one the most popular saving schemes. Apart from higher interest rates compared to bank deposits, PPF also offers a host of income tax benefits. In terms of income tax implications,PPF enjoys an EEE - exempt, exempt, exempt - status. This means the contribution, interest and maturity proceeds are all tax-free. PPF con...
-
Senior Citizens Receive Gifts Galore In Budget 2018. Five Things To Know
Senior Citizens will stand to enjoy higher exemption of interest income on deposits they have with banks and post offices
-
Income Tax Slabs, Rates And Useful Deductions To Know
The government may tweak income tax slabs and rates to bring down the burden on individuals, according to a survey by tax and advisory firm EY.
-
Latest Interest Rate On PPF, Income Tax Benefits, Withdrawal, Loan Facilities And Other Details
PPF account holders need to make minimum deposits of Rs 500 in a year. The maximum deposit allowed in a year is Rs 1.5 lakh.
-
FD Interest Rates: SBI Vs ICICI Bank Vs HDFC Bank Vs Kotak Mahindra
Fixed deposits or FDs are popular saving instruments, which not only help you save money but also offer income tax (I-T) deduction (on long term FDs).
-
House Renovation Cost: Can You Claim Income Tax Deduction?
For self-occupied house, if you have taken a home loan for renovation, you can claim deduction on the interest component. The deduction is capped at Rs 30,000 a year.
