tax exemption - World News

Understanding HRA exemption rules & benefits: Saving tax on rent allowance – know eligibility, calculation, documents required & more | Business – Times of India

getworldnews1 year ago010 mins

HRA tax exemption rules: House Rent Allowance (HRA) is a common component of many employees’ salary packages. Unlike basic salary, HRA isn’t entirely taxable, subject to specific conditions outlined in Section 10(13A) of the Income-tax Act, 1961.The exemption on HRA reduces the taxable portion of an employee’s income, thus offering a means to save on…

Investors consider ELSS for tax benefits, long-term wealth creation; here’s what you need to know | Business – Times of India

getworldnews1 year ago04 mins

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…