section 80c of Income tax act 1961

Public provident fund or as popularly known as PPF, is a secured long term investment option backed by the Government of India. In this article we will be discussing tax deduction under section 80C for the contribution to Public provident fund.From tax point of view, PPF falls under the Exempt-Exempt-Exempt (EEE) category. This means, periodic contribution to Public … [Read more...] about How to save tax on contribution to Public Provident Fund – PPF

Fixed deposits (FD) is one of the most favored risk free investment instruments in India. In a Fixed Deposit scheme, an investor can invest money for a fixed tenure at a predefined interest rate. As it’s invested for a fixed term, it’s also known as term deposit.Different types of Fixed Deposit schemes are available in India to invest for a specific term. However, Income … [Read more...] about How to claim tax deduction on fixed deposits – section 80C

You can claim tax deduction for payment of life insurance premium under section 80C of the Income tax act 1961. As per section 80C, amount paid to an insurer to buy or to keep a life insurance policy in force can be claimed as a deduction from taxpayer’s gross total income before arriving at the taxable income.Tax deduction is available on a life insurance policy brought … [Read more...] about How to claim Tax deduction on Life Insurance Premium