As the financial year 2024-25 approaches its conclusion, many investors are evaluating tax-saving options to optimise their portfolios. Among the popular choices are fixed deposits (FDs), Public Provident Fund (PPF), and the Senior Citizens Savings Scheme (SCSS), all of which are eligible for deductions under Section 80C of the Income Tax Act, 1961. These instruments … Read more
Senior Citizens Savings Scheme (SCSS): Planning for a secure and steady income after retirement is a priority for many. The Senior Citizens Savings Scheme (SCSS) offers retirees a reliable way to invest their funds while ensuring regular quarterly returns. Backed by the government, this scheme provides one of the highest interest rates among small savings … Read more
Union Budget: In this year’s Budget, Union Finance Minister Nirmala Sitharaman announced relief for taxpayers in the New Tax Regime by raising the Standard Deduction limit from Rs 50,000 to Rs 75,000. The revised tax slabs for the New Tax regime, applicable from April 2025, will allow salaried employees to save up to Rs 17,500 … Read more
The common perception is that individuals earning up to Rs 15 lakh annually cannot completely save on taxes. However, if planned wisely, one can pay zero tax even with a yearly income of Rs 15 lakh. In this article, we look at how to achieve that. Firstly, by utilising the basic exemption limit offered by … Read more