Posts By ClearTax

Tax

Should I file income tax returns? This is a common question among young Indians. There is not much awareness among the Indian taxpayers, especially the young ones, about when they are required to e-file income tax returns.   But e-filing income tax returns is important. You should e-file income tax returns for AY2016-17 (FY2015-16) before the deadline of 31 July…

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This is time of the year when we are scurrying to put together our investment proofs and tax savings documents. You family can help you save taxes too, let’s find out how.  Health insurance – The pressures of modern living have put our health at greater risk. While most employees have a medical insurance cover from their employer, it usually…

Infographic - tax Planning for beginners

Some smart planning can help you save thousands of rupees. Tax saving can also mean sound investments. The first step to understanding your taxes is to see what makes up your salary. Do you get HRA, LTA, transport allowance? Ask for a copy of your payslip or tax computation from your HR or payroll department. Let’s also find out the…

Tax - Cleartax

Unit Linked Insurance Plans or ULIPs are a unique investment product. Along with investment in ‘units’, it also comes with life insurance i.e. it provides life cover to the person taking the policy. ULIPs offer tax benefits at the time of investment as well as on maturity. Tax Benefit on investment – money invested in ULIP can be claimed as…

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Some careful planning can go a long way in saving you tax. Whether or not you have planned your taxes for this year, this list will guard you from making some common mistakes. Not maximising Section 80C limit of Rs. 1,50,000 – Section 80C allows you to deduct Rs 1,50,000 from your taxable income. A host of investments and expenses…

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