Any Indian citizen strives to save taxes considerably, and accordingly, the savings would all the more be wonderful if he is choosy about every deduction and exemption available under the Income Tax ...

Keep rent receipts, rental agreements, or bank statements showing rent payment as evidence in case of scrutiny by the tax authorities. (Image: Freepik) Rent is often one of the biggest expenses for ...

A common dilemma arises when taxpayers own property in one city but live on rent in another. Today's Ask Wallet Wise query decodes how Section 80GG works if both spouses own flats in one city but plan ...

Section 80GG allows deductions for house rent paid by individuals not receiving House Rent Allowance (HRA) as part of their salary, catering to both salaried and self-employed taxpayers.

As per section 80GG the Income Tax Act, 1961 (“the Act”), an individual wanting to claim a deduction can do so only if he is earning salary income or is a self-employed professional. The following are ...

For salaried taxpayers, house rent allowance (HRA) is a highly popular tax break under the old tax regime that helps cut tax outgo substantially. In fact, since it does not come with a cap, unlike ...

Section 80CCD provides tax benefits to individuals contributing towards the National Pension Scheme (NPS) or the Atal Pension Yojana (APY). Representative image. Source: Pixabay Saving money while ...