Tax Planning

What is Tax Planning:

Tax planning is a tool where one makes systematic investments using different investment products available in the financial market, to avail of the benefits given by the government of India from time to time.

What is the new Tax Structure?

Upto: Rs 1,00,000/- ************************************************ Nil

Rs 1,00,001/- to Rs 1,50,000/- ********************************** 10%

Rs 1,50,001/- to Rs 2,50,000/- ********************************** 20%

Above: Rs 2,50,000/- ********************************************* 30%

A 10% surcharge is levied on assesses with a net taxable income above Rs 10,00,000/-

What is the deduction available on investment under section 80C?

The deduction available on investment under section 80C is Rs 1,00,000/- (One Lac Only)

What type of investments are eligible for deduction u/s 80C?

The following investments are eligible for deduction u/s 80C:

Payment of Life Insurance premium.

Contribution to provident fund.

Repayment of principal amounts on housing loans.

Payment of tuition fees.

Investment in PPF (Public Provident Fund)

Investment in NSC (National Saving Certificate)

Investment in ELSS (Equity Linked Saving Schemes)

Investment in Infrastructure Bonds

What benefits do I get u/s 10 (10D)?

The maturity amount on one's insurance is tax free u/s 10 (10D)

What benefits do I get u/s 80D?

Mediclaim policies attract tax benefits under section 80D. Deduction under this section is available if the premium is paid by cheque. The maximum amount of deduction available under this section is Rs 10,000/- and Rs 15,000/- in case individual is a senior citizen. Tax benefits are also available in case individuals pay for their parents and children who are dependent.

What benefits do I get u/s 24?

Home loan interest paid upto Rs 1,50,000/- per year is allowed for deduction from taxable income u/s 24 in addition to the benefit of principal amount deduction of Rs 1,00,000/- u/s 80C. Meaning a person investing in property gets total relief by way of deduction of Rs 2,50,000/- via section 24 and section 80C.

Dolly Enterprises helps you to avail of all the Tax benefits available in the Investment World offered by the Honourable Finance Ministry from time time by offering you the right advice for the right investment product.

Yes it is a dream come true and we at Dolly Enterprises help you to realize your dreams. You only have to get in touch with us at freedom@dollyenterprises.com and leave your financial worries behind.