http://http-download.intuit.com/http.intuit/CMO/accountants/tax/2013/lacerte/documents/MA.pdf WebDec 12, 2024 · To begin with, investments in ELSS qualify for tax deductions of up to Rs 1.5 lakh in a financial year under Section 80C of the Income Tax act. You have to be careful about investing more than Rs 1.5 lakh in a financial year as you can’t claim tax deductions on your investments above Rs 1.5 lakh. If you invest in one or multiple ELSS schemes ...
Sebi’s accredited investor regime has few takers
WebApr 10, 2024 · The Indian government has introduced a new tax regime that offers lower tax rates and a simplified tax structure. However, experts suggest that taxpayers should carefully decide whether to opt for the new regime or stick to the old regime, as many deductions and exemptions are not available in the new regime. Until last year, only 5-10% … Web1 day ago · Declaration in Form 15G can be filed by the individual if his relevant income, in respect of which he is eligible to file a declaration, does not exceed the maximum exemption limit and tax on his estimated total income for the financial year in which such income is to be included is nil. Declaration in Form 15H can be filed if tax on the ... sharks in a supermarket
DR 8454 - Income Tax Declaration for Online Electronic Filing
WebEven if your HRA is less than Rs. 3000/-, try to keep rent receipts with you in case the Income Tax Officer asks for them at a later date. Q - Do I need to produce a rent receipt for every month? Ans. Generally employers ask for rent receipts for 3-4 months. ... Sample Declaration Form. Q - What evidence is required for claiming HRA? Ans. The ... WebFeb 15, 2024 · ELSS Mutual Funds: Investment in ELSS or tax-saving funds gets a tax deduction up to Rs 1.5 lakh under Section 80C of the Income Tax Act, 1961. The returns of ELSS funds over the past 5 years have averaged at 16% (as of 3rd Jan 2024). Returns on ELSS funds over Rs 1 lakh are taxed at 10% (long term capital gains tax). WebApr 12, 2024 · Updated: 12 Apr 2024 8:23 am. Forms 15G and 15H are self-declaration forms submitted by taxpayers to banks or other financial institutions to avoid Tax Deducted at Source (TDS) on certain types of ... sharks in australia