sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004
 How salaried individuals can avail full potential of I-T benefits
 The Central Board of Direct Taxes unveiled new Income Tax Return forms for assessment year 2018-19 on 5 April. Although the manner of filing returns remains the same as compared to last year, certain changes have been incorporated in the new ITR forms.
 Income Tax efiling: Must-do steps to file your IT return for FY 2017-18 on time till you get Form 16
 What are the tax filing deadlines for financial year 2017-18?
 How income tax department can penalise you for under-reporting, misreporting income
 Start your tax planning right now
 Government confident of meeting fiscal deficit, tax revenue targets
 Clarification with respect to the E-way Bill System
 Here is how you can save on taxes

New scheme to avail tax exemption
August, 31st 2010

The Direct Tax Bill has proposed to introduce a new investment scheme to avail tax exemption. In this scheme, an investor can invest up to Rs 50,000 in life insurance policies, health insurance and children's tuition fees.

One can also invest up to Rs 1 lakh in a year in approved securities like employees provident fund (EPF), public provident fund (PPF), pension fund and other approved securities.

At present, one can invest up to Rs 1.10 lakh in a host of instruments like EPF, PPF, pension plan, insurance, equity-linked savings schemes ( ELSS), Unit Linked Investment Plan ( ULIP) and children's tuition.

Besides this, there is a separate category of Rs 10,000 to invest in infrastructure bond and Rs 15,000 in health insurance. One can invest up to Rs 1,35,000 in various instruments.

"Though, the limit has been marginally been increased, it has now been segregated in two schemes. So the freedom to invest most of the income in one particular scheme has been curtailed now," deputy CEO and chairman of KPMG Dinesh Kanabar said.

The increase in the limit of investment from Rs 1.35 lakh to Rs 1.5 lakh will enable a big investor, having more than Rs 10 lakh annual income, to save an additional Rs 4,500. His savings will go up from Rs 40,500 to Rs 45,000.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions