Web16 sep. 2024 · As the name suggests, an equity-linked savings scheme (ELSS) is a type of mutual fund that primarily invests in the stock market or equity. Investments of up to 1.5 … WebIf we consider that you avail of the commonly available tax deductions only, you can save up to Rs 4,75,000* (details provided in the table below) for the Financial Year 2024-20 …
Tax-Saving Strategies for High-Income Earners - XOA TAX
Web30% ruling. The 30% reimbursement ruling is a tax advantage for certain expat employees in the Netherlands. The most significant benefit is that the taxable amount of your gross Dutch salary is reduced from 100% to 70%. So 30% of your wage is tax-free. Visit the 30% ruling page for more information. Web6 apr. 2024 · Max Tax Saving Limit – Rs. 10,000 under TTA and Rs. 50,000 under TTB. Section TTB is applicable for senior citizens and TTA for other individuals less than 60 years of age. If you are less than 60 years of age then, the interest earned on savings accounts is not taxable up to Rs. 10,000 under section 80TTA. nanako from the neighborhood
Income Tax: How to save maximum money while filing your ITR
WebIncome Tax (IT) deductions u/s 80C are very popular among the investors. It allows a maximum deduction of up to Rs. 1,50,000 each year from the total income of the taxpayer. The HUFs and the individuals can reap the benefits of this section. However, partnership firms, LLPs, and corporations cannot claim this benefit. Web24 feb. 2024 · 5. Roth IRAs and Roth 401(k)s. A Roth IRA isn’t an investment itself, but a retirement account for tax-free investing. With a Roth IRA, you contribute after-tax dollars to your account, up to the annual limit. For 2024, the limit is $6,500 (up from $6,000 in 2024), plus an additional $1,000 catch-up contribution if you’re 50 or older. Web11 mrt. 2024 · The maximum tax saving under section 80C for the taxpayers paying 5 per cent, 20 per cent and 30 per cent tax will be Rs 7,800, Rs 31,200 and Rs 46,800 … megan had a gross pay last week of 980.00