[/gem_quote][/vc_column_inner][vc_column_inner width=”1/2″][gem_divider margin_top=”-8″][vc_column_text]We, at Tax Baniya provide tax consultancy services to individuals as well as companies and family businesses. We have in house tax consultants in Mumbai who will provide complete tax consultancy services and guide you on every aspect of direct and indirect taxation.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][vc_column el_class=”widget” offset=”vc_col-lg-4 vc_col-md-4 vc_col-xs-12″][vc_row_inner][vc_column_inner][gem_image disable_lightbox=”1″ effects_enabled=”1″ src=”25928″][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]
Meaning of Income Tax
[/vc_column_text][vc_column_text]Income Tax is the taxes that are levied on the income of individuals or organizations. Income tax is the tax levied on individual income from various sources like salaries, investments, interest etc. Corporate tax is the tax paid by companies or firms on the incomes they earn.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text css=”.vc_custom_1552841225007{background-color: #89c765 !important;}”]
Top Tax Saving Instruments in India
[/vc_column_text][vc_column_text]Here is a list of some of the best ways to save taxes in India.
Under Section 80D, you can claim tax benefit if you have taken a health insurance policy. Under this section, you can save tax up to Rs 25,000 and Rs 50,000 in case of senior citizens. Under Section 80D you can also include expenses incurred towards preventive health check-ups.
Please Click – Health Insurance[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/5″][vc_column_text]
National Pension System (NPS)
Under section 80CCD (1B), NPS offers an additional tax deduction for investment up to Rs 50,000. Tax-saving deduction under NPS is over and above the deduction of Rs 150,000 lakh available under Section 80C of the Income Tax Act.
Under Section 80E you can avail tax deduction on the interest paid on an education loan. Taxpayers should keep in mind while filing an income tax return, the deduction under this is allowed only on the interest repayment part, not on the principal amount of the education loan. One of the best parts of this is there is no maximum limit on claiming deduction under 80E, which is also over and above the 80C limit.[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/5″][vc_column_text]
House rent allowance
IF HRA Part of Salary Claim HRA With Employer
Else
Under Section 80GG, you can avail tax deduction max upto Rs. 60.000 p.a.[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/5″ css=”.vc_custom_1552841112579{background-color: #89c765 !important;}”][vc_column_text]
Home Loans
The limit on deduction on home loan interest under Section 24 is Rs 2 lakh against Salary Income .[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_column_text]
We Suggest to Go For Tax Saving
Health Insurance
Term Insurance
ELSS IF Limit of Rs. 1,50,000 is left
Additional Rs. 50,000 in NPS for additional deduction
