To calculate how much Income Tax you can save with HRA Exemption and to learn how to calculate, follow the steps below. We are using an Income Tax Calculator to show you how to calculate HRA Exemption. Step 1: Open the income tax calculator Step [...]

Let's find out how you can calculate Tax Liability from Income Tax using an online income tax calculator. Step 1: Open the income tax calculator Step 2: Fill in Basic Details Step 3: Key in your Salary Details Step 4: Declare [...]

If you purchase an affordable home, you can claim deduction under Section 80C, Section 24 and Section 80EEA. Let's analyze how you can save income tax by purchasing an affordable home. As per section 80EEA, the interest on loan taken for an affordable home can be claimed as a deduction with a limit [...]

Section 80EEB of the Income Tax allows deduction from taxable income in respect of interest on loan taken for purchase of electric vehicle. Let's find out how you can save income tax by purchasing electric vehicle. As per section 80EEB, the interest on loan for an electric vehicle can be claimed [...]

Let's find out how you can save tax while traveling with your family. Conditions for claiming Leave Travel Allowance Exemption is available only on actual travel costs(Air, rail, or bus) Only domestic travel is considered Exemption is available for travel cost of individual & family [...]

Section 80D of the Income Tax allows deduction from taxable income in respect of medical insurance premium or medical expenses paid for your family. Let's analyze how you can save tax while taking care of your family. Deduction under section 80D is allowed for A medical insurance premium [...]

Section 80D of the Income Tax allows deduction from taxable income in respect of medical insurance premium or medical expenses paid for your parents. Let's analyze how you can save tax while taking care of your parents. Deduction under section 80D is allowed for A medical insurance premium [...]

The income tax department gives you many different options to save tax! But, do you know how to save maximum income tax? If your income exceeds a basic exemption limit, you are liable to file an income tax return for the financial year regardless of the tax liability. But, you have various options to [...]

Section 80G of the Income Tax allows deduction from taxable income in respect of donations paid to approved funds and charities. Let's find out how you can save tax while giving to charity. To claim benefits under Section 80G, you should contribute to a fund or charity [...]

Your employer is responsible to deduct income tax from your salary. The income tax calculation is affected by factors such as: income other than salary, house rent, investment in certain funds, housing loan interest, and so on. In the beginning of a financial year, you have to make declarations to the employer on, what investments [...]