Gift deed: Want to give your loved ones a special gift? A gift deed in India can make sure the transfer is smooth and secure, whether it’s a family heirloom or a valuable property. Here’s how you can make use of gift deeds to transfer your wealth: What’s a gift deed? A gift deed is…
Section 80DDB of the Income Tax Act provides individuals with a valuable tax deduction for expenses incurred in treating certain specified illnesses. This provision allows for a deduction on medical treatment expenses incurred for dependents suffering from specified diseases. Eligible dependents for coverage include spouses, children, parents, and siblings.Here are five essential things to know…
Money deadlines in March 2024: As the current financial year is set to end, it’s important not to overlook important deadlines that could affect your finances. These dates involve regulations that taxpayers and investors must adhere to, in order to avoid penalties or fines for missing them. As per an ET report, here are some…
It is tax planning season, and investors are considering the Equity Linked Savings Scheme (ELSS) for its dual benefits of capital appreciation and tax exemption. ELSS mutual funds provide tax exemption on investments up to Rs 150,000 under Section 80C of the Income Tax Act.ET quoted Deepak Gagrani, Founder of MADHUBAN FINVEST, saying that investing…
Income Tax Changes Budget 2024: In the recent Budget 2024 speech, the Finance Minister kept the Section 80C tax deduction limit unchanged. The maximum limit for claiming tax benefits under Section 80C remains at Rs 1.5 lakh for the current fiscal year 2023-24 and will stay the same for individuals looking to save on taxes…
