80 TTA and 80 TTB

Tax savings on Interest income – 80 TTA and 80 TTB

Posted Leave a commentPosted in Income Tax, Income Tax Return, Investments

As per the Income Tax Act, 1961, various exemptions and deductions are available to the income taxpayers to provide relief from the tax. Similarly, Tax savings on Interest income under section 80 TTA & 80 TTB provides relief on Interest income. The eligible assessee can claim the deductions while filing their Income-tax return. This article […]

PPF for minors

PPF Account for Minors

Posted Leave a commentPosted in 80 C, Investments

Public Provident Fund (PPF) is a popular saving scheme that is long term investment that offers income tax benefit under section 80C of the Income Tax Act, 1961. Any resident individual can open the PPF account. You can also open a PPF account for your children. Opening PPF account is a small investment for your […]