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If you plan on investing in fixed-income investments like bonds or dividend stocks, it can save on taxes to keep them in tax-advantaged accounts. Since these income-producing investments pay out ...
[1] [2] They offer tax benefits under the Section 80C of Income Tax Act 1961. [3] ELSSes can be invested using both SIP (Systematic Investment Plan) and lump sums investment options. [4] [5] [6] There is a three years lock-in period, and thus has better liquidity compared to other options like NSC and Public Provident Fund. [7]
There are dozens of self-employment tax deductions, including advertising, retirement contributions, health insurance, self-employment tax deduction, travel expenses, business insurance, car ...
529 College Savings Plans are tax-advantaged savings plans designed to encourage saving for future education costs. Contributions to a 529 plan are made with after-tax dollars, but the investment ...
The tax benefit is capped at ₹1.5 lacs per financial year. PPF falls under the EEE (Exempt, Exempt, Exempt) tax basket. Contribution to the PPF account is eligible for tax benefit under Section 80C of the Income Tax Act in the old Tax Regime. Interest earned is exempt from income tax, and maturity proceeds are also exempt from tax. [3]
The Rajiv Gandhi Equity Savings Scheme (commonly referred to as RGESS), was a tax saving scheme announced in the 2012-2013 Union Budget of India, [1] aimed at first time retail investors. Named after Rajiv Gandhi , the sixth Prime Minister of India , the scheme was announced by the finance minister, P. Chidambaram , on 21 September 2012. [ 2 ]