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In this video of Josh Money, Our Expert Priyanka Mashelkar is talking about Tax Saving Scheme. Priyanka Mashelkar is currently in Service with the Government Of India and She is serving as Deputy Commissioner in Income Tax Department
Priyanka is talking about the Top 3 Tax Saving Scheme in which we can avail all the Section 80C Benefits.
First Scheme is ELSS or Equity Linked Saving Scheme.
The second Scheme is PPF or Public Provident Fund.
The third Scheme is NPS or National Pension Scheme.
In Josh Money, we already made a detailed video about all 3 schemes.
Some Useful Tips For Tax Saving:
1. Make an investment of Rs 1.5 lakh under Sec 80C to reduce your taxable income. Additional deduction of Rs 50,000 can be claimed by investing in NPS under 80CCD (1b)
2. Buy Medical Insurance, maximum deduction allowed is Rs. 1,00,000 (Rs 50,000 for self and family if senior citizen and Rs 50,000 for senior citizen parents) under Section 80D.
What do we actually mean by Section 80C Deduction?
Here is the answer,
Income tax department allows reducing of the taxable income of the taxpayer in case the taxpayer makes certain investments or eligible expenditures allowed under Chapter VI A. 80C allows a deduction for the investment made in PPF, EPF, LIC premium, Equity-linked saving scheme, principal amount payment towards home loan, stamp duty and registration charges for the purchase of property, Sukanya Samriddhi Yojana (SSY) , National saving certificate (NSC) , Senior citizen savings scheme (SCSS), ULIP, tax saving FD for 5 years, Infrastructure bonds etc
To know more about PPF or Public Provident Fund, click here:
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To know more about NPS or National Pension Scheme, click here:
[ Ссылка ]
To know more about ELSS or Equity Linked Savings Scheme, click here:
[ Ссылка ]
Tax Saving Investment Schemes | Best Tax Saving Tips For 2022 | Section 80C Benefits | Josh Money
