Jan 26, 2013

Income Tax 80C to 80CCG Save TAX 2012 13


Life Insurance
(Section 80C)

With tax savings, Life Insurance purchase becomes an effective long term savings cum protection option. Maximum tax saving through Life Insurance is 30,900.
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Health Insurance
(Section 80D)

Health Insurance is a cost effective way to protect your family against medical exigencies. You can get Health Insurance for self, immediate family or parents. It can save you 10,815 on Income Tax.
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Equity Linked Savings Scheme (ELSS)
(Section 80C)

ELSS is a category of Mutual Fund schemes that invest primarily in stocks and are eligible for Section 80C benefits. Here too, you can save up to 30,900 on Income Tax.
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Tax Saver Fixed Deposits
(Section 80C)

Tax Saver Fixed Deposits is another investment option introduced by the Government of India. Investments in these up to 1 lakh can save you upto 30,900 in Income Tax.
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Rajiv Gandhi Equity Savings Scheme (RGESS)
(Section 80CCG)

RGESS allows new retail investors to avail additional tax benefit (over and above Section 80C) on 25,000 for equity investment of 50,000. It can save you up to 5150 on Income Tax.
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1 comment:

kesar walia said...

In India every person wants to save tax. Section 80C save our hard earned money against the sword called TAXES.
Thanks for giving such kind of vital information about tax deduction. I do believe that long term life insurance which gives good return are good for tax saving under section 80c