Think Beyond Section 80C: Alternative Options To Save Your Taxes
By SiliconIndia
BENGALURU: Don't we all love to save or limit our taxes? Sure we do! We all know that Section 80C of the Income Tax department allows certain investments and expenditure to be tax-exempt.
Even today many of us think that Section 80C is the only Act of Income Tax Department, which can helpful when we think of saving our taxes as working professionals, but that’s not true. There are other Act’s also beyond Section 80C which helps in reducing taxes in the same way. In a broader sense, An individual can claim tax deductions of up to Rs 1.50 lakh (One Lakh Up to AY 2014-15) under 80C.
Lets now see what the other Acts excluding Section 80C:
New Section this year – 80CCF
According to PersonalFN, this is the only year where you can invest into Long Term Infrastructure Bonds, and avail an extra Rs. 20,000 of tax deduction under Section 80CCF.
Read More: 7 Weird Insurances You Have Never Seen Before
India Inc Plans To Increase Budgets For Employer Branding This Year
Don't Miss
