PNN
New Delhi [India], June 11: In today's financial scenario, effective financial management is paramount to ensure a smooth and stress-free year. An important aspect of this management is to maximize tax savings. Gone are the days when tax filing involved a lot of paperwork and repeated visits to the Income Tax Department. With the advent of online tax filing platforms, the process has become remarkably streamlined. One such platform is All India ITR (https:// www.allindiaitr.com/), where users can calculate taxes, submit required documents Can upload and file.Their return is easy.
The user-friendly interface of All India ITR has received positive feedback for its efficiency and accuracy. This platform guides customers through each step of filing returns, making the process simple. Features like HRA exemption calculator and 24/7 customer support further enhance the convenience of tax filing. Vikas Dahiya, director of All India ITR, said, “It is a common perception that filing tax returns is difficult and complicated.However, with proper guidance and knowledge, it can be done easily. At All India ITR, we believe that technology can help in getting accurate and beneficial results without any hassle.
Here are some effective strategies for investors to maximize tax savings this financial year:
National Savings Certificate (NSC): Available at post offices, this fixed income investment scheme currently offers guaranteed returns of 7.7 per cent. Under Section 80C of the IT Act, one can claim deduction on investments up to Rs 1.5 lakh in NSC, making it an attractive option for tax savings.Sukanya Samriddhi Yojana (SSY): This scheme launched by the government is specially designed for the financial security of the girl child. Deposits made under the SSY scheme are eligible for tax exemption and deduction under Section 80C, with a maximum limit of Rs 1.5 lakh. This not only secures the girl's future but also provides substantial tax benefits to the parents.
Public Provident Fund (PPF): For those looking for long-term investments, a PPF account is an excellent option. It can be opened in any bank with a minimum deposit of Rs 500 and a maximum annual contribution of Rs 1.5 lakh.The investment tenure is 15 years, with the option to extend it for an additional five years. PPF accounts are highly preferred for building substantial wealth over time due to attractive interest rates and tax benefits.
Insurance Policies: Insurance policies are a popular way to secure the financial future of loved ones. They protect the insured's family from financial difficulties, ensuring a better quality of life. Premiums paid for life and health insurance policies are eligible for deduction up to Rs 25,000 from taxable income.Additionally, premiums paid for health policies of senior citizens parents are eligible for an additional deduction of up to Rs 30,000.
By incorporating these investment strategies, investors can significantly reduce their tax liabilities while securing their financial future. Effective financial management, enhanced by the convenience of online platforms like All India ITR, ensures that taxpayers can manage the financial year with confidence and ease.
New Delhi [India], June 11: In today's financial scenario, effective financial management is paramount to ensure a smooth and stress-free year. An important aspect of this management is to maximize tax savings. Gone are the days when tax filing involved a lot of paperwork and repeated visits to the Income Tax Department. With the advent of online tax filing platforms, the process has become remarkably streamlined. One such platform is All India ITR (https:// www.allindiaitr.com/), where users can calculate taxes, submit required documents Can upload and file.Their return is easy.
The user-friendly interface of All India ITR has received positive feedback for its efficiency and accuracy. This platform guides customers through each step of filing returns, making the process simple. Features like HRA exemption calculator and 24/7 customer support further enhance the convenience of tax filing. Vikas Dahiya, director of All India ITR, said, “It is a common perception that filing tax returns is difficult and complicated.However, with proper guidance and knowledge, it can be done easily. At All India ITR, we believe that technology can help in getting accurate and beneficial results without any hassle.
Here are some effective strategies for investors to maximize tax savings this financial year:
National Savings Certificate (NSC): Available at post offices, this fixed income investment scheme currently offers guaranteed returns of 7.7 per cent. Under Section 80C of the IT Act, one can claim deduction on investments up to Rs 1.5 lakh in NSC, making it an attractive option for tax savings.Sukanya Samriddhi Yojana (SSY): This scheme launched by the government is specially designed for the financial security of the girl child. Deposits made under the SSY scheme are eligible for tax exemption and deduction under Section 80C, with a maximum limit of Rs 1.5 lakh. This not only secures the girl's future but also provides substantial tax benefits to the parents.
Public Provident Fund (PPF): For those looking for long-term investments, a PPF account is an excellent option. It can be opened in any bank with a minimum deposit of Rs 500 and a maximum annual contribution of Rs 1.5 lakh.The investment tenure is 15 years, with the option to extend it for an additional five years. PPF accounts are highly preferred for building substantial wealth over time due to attractive interest rates and tax benefits.
Insurance Policies: Insurance policies are a popular way to secure the financial future of loved ones. They protect the insured's family from financial difficulties, ensuring a better quality of life. Premiums paid for life and health insurance policies are eligible for deduction up to Rs 25,000 from taxable income.Additionally, premiums paid for health policies of senior citizens parents are eligible for an additional deduction of up to Rs 30,000.
By incorporating these investment strategies, investors can significantly reduce their tax liabilities while securing their financial future. Effective financial management, enhanced by the convenience of online platforms like All India ITR, ensures that taxpayers can manage the financial year with confidence and ease.
