Miteshamonkar
KF Rookie
Annual Income: INR 858,000
Investment in Tax Saving Funds: INR150,000
No Home Loan
Not Interested in NPS
Investment in Tax Saving Funds: INR150,000
No Home Loan
Not Interested in NPS
Invest in ELSS tax saving MFI work as a freelancer, Any tax savings option apart from 80C, NPS, Medical Insurance (upto 25k additional for parent), Medical Expenses (upto 40k), rent and standard deduction ???
Currently your tax is 45864/-.Annual Income: INR 858,000
Investment in Tax Saving Funds: INR150,000
No Home Loan
Not Interested in NPS
ELSS will come under 80CInvest in ELSS tax saving MF
Yes, ELSS comes under 80C but if you haven't exhausted the limit, you can invest in ELSS, they are giving good returns. Also if you need any personal advice you may DM meELSS will come under 80C
Apart from that you'll get deduction of interest in savings bank account under 80TTAInvest in ELSS tax saving MF
Do you have home loan?I work as a freelancer, Any tax savings option apart from 80C, NPS, Medical Insurance (upto 25k additional for parent), Medical Expenses (upto 40k), rent and standard deduction ???
yea am aware of home loan or education loan benefits but unfortunately dont have any suchDo you have home loan?
Hi Ria, I have worked for two companies this financial year, both have HRA component but i have submit any proof to them, as filling ITR how to calculate total HRA and how to claim that?Currently your tax is 45864/-.
Claim traveling or daily allowance.
Claim HRA u/s 10(13A)
Purchase EV, can get deduction upto 150000 of int on loan taken
Mediclaim insurance, 25000 for yourself and 25000 for parents ( if senior citizen then 50000)
If you do not have HRA component then claim deduction u/s 80GG.
Get additional 50000 deduction u/s 80CCD(1B) apart from 80C by contribution to pension scheme of central govt/ atal pension yojana( it's different from NPS)
You should switch to the new tax system instead of the old tax system. Because you will not have the financial stress of saving Rs 1.5 lakh and the tax will also be less. And you can invest this Rs 1.5 lakh in some other way and here you will get better returns.Annual Income: INR 858,000
Investment in Tax Saving Funds: INR150,000
No Home Loan
Not Interested in NPS
Yes you're absolutely correct but maximum deduction you can claim under 80GG is 5000 per monththanks for replying
date is passed to submit proof with employer, so below is left with me now?
under below
If you do not have HRA component then claim deduction u/s 80GG.