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BANK ON TERM DEPOSITS FOR AVAILING TAX SAVING

Investing in the ‘Tax Saving Deposit Scheme’ can be a great choice for NRIs & HUFs who cannot invest in PPF!               The Finance Act, 2006 enlarged the scope of investments and allocations eligible for deduction under Section 80C of the Income-tax Act through the inclusion of ‘a term deposit for a period of 5 years or more in accordance with a scheme framed by the Central Government.’  Pursuant to this,...

PPF INVESTMENT NOW MORE ATTRACTIVE!

PPF’s tax saving bonanza gets much bigger with investment raised to Rs.1 lakh & interest to 8.6% p.a.! A PPF investor, who could earlier invest only Rs.70,000 in a financial year, would now no longer be required to scout around for other avenues of savings, investments or allocations for availing the full benefit of deduction of Rs.1,00,000 under Section 80C. His long time prayer has finally come to be answered...

WILL PPF INVESTMENT BE REVISED TO RS.1 LAKH?

With exemption of interest & deduction for investment PPF can effectively yield a return of upto 16.75% !         Section 80C of the Income-tax Act was amended by the Finance Act of 2005 with effect from Financial Year 2005-06, permitting an individual and HUF to avail of higher deduction for specified investments and allocations of upto Rs.1,00,000, revising it upwards from the earlier limit of...

PPF MAGIC UNSTOPPABLE!

You Can Build Amazing Tax Free Capital For Your Children Via Investment In PPF! Every parent would naturally be concerned about building capital for his or her children, which would go to ensure meeting their financial requirements for higher education, marriage, settlement in life, etc. One of the major stumbling blocks in doing so are the clubbing provisions under Section 64(1A) of the Income-tax Act, which...

Roti, Kapda but No Makaan!

Analyzing Tax Gain & Pain In The New EET Regime Tax Incentives for Housing Scrapped: Current deductions in respect of interest & repayment of housing loan abolished under the new Code. Higher Deduction For Savings & Children’s Education: Individual & HUF entitled to an aggregate deduction of upto Rs.3 lakhs in respect of permitted savings & children’s tuition fees payment, as compared to current...

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