Why should you Start SIP in ELSS Tax Saving mutual funds now?

Tax saving is synonymous with the end of financial year. Most tax saving investment are made between January and March. A lot of agents and salesmen of LIC, ULIP, etc. become active during this period and shrewdly use your sense of urgency to push poor tax saving products. Should you really push tax saving till …

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Forgot to submit tax proof? How to still claim the benefit?

A good understanding of requirements, benefits available, how to claim them and importantly how to plan to utilize the benefits under the IT act will ensure that the tax paid is the minimum and thus maximize long-term saving of money. The Income tax act considers all earnings of a person as income and taxable unless …

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How to Save Taxes on Health Insurance

If you are planning for your tax saving, then a good option would be to invest in Health Insurance. Not only does it reduces your taxable income but also, provides you protection against the rising medical expenses. How much deduction can you claim for premium payment? If you are a senior citizen (age 60 + …

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How to Save Taxes on Sale of Property

Special Exemptions on Capital Gains on Sale of Immovable Property: The Government of India provides some exemptions on long-term capital gains arising from the sale of immovable property like houses, apartments, etc. To understand how capital gains are calculated and taxed, please refer to ‘How much Capital Gains Tax you need to pay on sale …

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