Income Tax: Good news, up to Rs 8 lakh will be saved from tax, don’t even lie, Finance Minister told the solution! – Income Tax News Now you can save tax up to Rs 8 lakh, says Nirmala Sitharaman

Income Tax: The solution states that you can save up to Rs 8 lakh in tax

Income Tax: Good news, up to Rs 8 lakh will be saved from tax, don't even lie, Finance Minister told the solution!

tax saving tips

New Delhi : Today, salaried employees whose salary is more than Rs 5 lakh, income tax from now (Income tax) They are worried about how to read. But you will be able to save up to Rs 8 lakh in tax. Whether your salary is Rs 8 lakh or Rs 10 lakh, you don’t even have to pay tax. You may find it unbelievable but there are many ways to go about it. Using this, you will not have to pay even a single rupee for filing income tax. Union Finance Minister Nirmala Sitharaman (FM Nirmala Sitharaman) He has shared many ways to save tax. Based on that you can save lakhs of rupees. Let us see how to save up to 8 lakhs in income tax.

If you have taken a home loan, then you can get the benefit of exemption under section 24 (b) of the Income Tax Act. You can claim tax deduction on the interest paid on home loan. In this, you can claim tax exemption on interest up to Rs 2 lakh.

Apart from this, you can also claim tax exemption on the principal amount of the home loan. Tax relief is available under section 80C of the Income Tax Act. In this, tax exemption of up to Rs 1.5 lakh is available. If you are doing deduction earlier, then you can get tax exemption up to Rs 1.5 lakh only.

Under Section 80EEB of the Income Tax Act, any purchase of an electric car is eligible for tax exemption. If you buy an electric vehicle or take a vehicle loan, you get a rebate of up to Rs 1.5 lakh.

Tax exemption up to Rs 1.5 lakh is available under section 80C of the Income Tax Act. So you can invest the amount in LIC policy, PPF, EPF, NSC and many other schemes and claim tax benefits.

You can also save tax on health insurance. You can claim premium under section 80D. On that you get a tax rebate of up to Rs 25,000. If the parents also have health insurance, then there is a deduction of Rs 50,000.

Senior citizens in India live on income from pension and other schemes. Now he will not have to pay any tax on this income. They will not have to file income tax return. Till now all the citizens had to pay tax according to their income. Senior citizens are given a discount.

The Finance Ministry gave information about this by tweeting. According to this, senior citizens of the country above 75 years of age do not need to file income tax return from this year. Senior citizens who do not have any source of income other than pension or other schemes. This will benefit them.

read this also

For more Business updates, Click here.

Leave a Comment