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Jun 23, 2018 · Learn how to enter details of tax-saving investments and expenditures under sections 80C to 80U in ITR-1 online. Find out the maximum limits, eligible schemes and additional details for section 80D deduction.
- Preeti Motiani
Jun 12, 2024 · To claim deductions under Section 80C, you need to list your eligible investments and expenses in the appropriate section of your income tax return form. Ensure you retain all investment receipts and relevant documentation as proof.
Find answers to common issues and queries while filing ITR for AY 2024-25, such as deductions, tax regime, bank account validation, etc. Learn how to choose ITR 1/4, claim VIA deductions, opt for old tax regime, and more.
Jul 5, 2024 · Learn how to save taxes by investing in various options under section 80C of the Income Tax Act. Find out the eligibility, limit, and taxability of each option, such as PPF, ELSS, NSC, and more.
- Claim HRA Exemption in Your Return
- Claim Deductions Under Section 80C with No Investments
- LTA Cannot Be Claimed
- Investment Proof Submission Last Date For FY 2023-24
- No Submission of Proofs Is Required with The Return
Did you forget to submit rent receipts to your employer on time? Don’t worry! If you live on rent and have made rent payments, you can claim a deduction on the House Rent Allowance at the time of filing your return. All you need is your rent receipts and PAN of your landlord (where rent payments are more than Rs 1,00,000 per annum). Here is our HRA...
Section 80C allows you to reduce Rs 1,50,000 from your taxable income. You can view the entire list of deductions allowed under Section 80C here. If you were not able to submit the details of your Section 80C deductions to your employer timely, you can claim them in your income tax return. You can claim them during return filing, even though they d...
Unfortunately, the exemption on LTAcannot be claimed in your return. The bills for your travel against LTA can only be claimed via your employer. You can claim LTA twice in a block of four years. You may carry forward your unclaimed LTA to the next year. So, you can request your employer not to deduct tax on it and allow you to claim it next year. ...
The income tax proof submission's last date for FY 2023-24 will be 31st March 2024. However, since you don’t have to submit it to the income tax department, there is no strict deadline, and it varies from employer to employer. Generally, your employer may ask you to declare investment proofs from January onwards till March. However, one must try to...
Remember, you DO NOT need to submit these income tax proofs to ClearTax or to the income tax department. We recommend you keep those safe lest you receive an income tax notice and the assessing officer calls for them. You must retain these proofs for 3 Years.
Jun 10, 2024 · Your total income after reducing the deductions under chapter VI-A (Section 80C, 80D and so on) does not exceed Rs 5 lakh in an FY. The tax rebate is limited to Rs 12,500. This means, if your total tax payable is less than Rs 12,500, then you will not have to pay any tax.
Apr 4, 2017 · For section 80C- The amount of eligible investment or expenditure as specified is fully allowed for deduction subject to the limit of Rs 1.5 lakh. The limit of Rs 1.5 lakh deduction of Section 80C includes 80CCC (contribution towards pension plan) and 80CCD (1), 80CCD (1b) and 80CCD (2).
