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Tax

Tax on PF Interest – New PF Rules 2021 with Example

By:MoneyChai Tax Last Updated: 25 Mar, 2021

Tax on PF Interest – New PF Rules 2021 with Example

It has been proposed in the Union Budget 2021 to tax the employee`s Provident Fund (PF) contribution. The employee`s PF contribution in excess of 2.50 Lakhs per annum will be taxed. Suppose an employee contributes more than 2.50 Lakhs per annum towards Provident Fund (PF) or Voluntary Provident Funds (VPF). In this case, the interest… 

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Filed Under: Tax

Deductions under Section 80C for FY 2020-21 – Tax Benefits

By:MoneyChai Tax Published: 7 Mar, 2021

Deductions under Section 80C for FY 2020-21 – Tax Benefits

Section 80C of Income Tax Act for tax exemption (Old Regime) – What are the limits, components, list of deductions under Section 80C for FY 2020-21? What are the various tax benefits under Section 80C for AY 2021-22? The most popular Tax Saving instruments are the deductions under Section 80C of the Income Tax Act. Section 80C… 

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Filed Under: Tax

Deduction under Section 80D – Tax Benefits for 2020-21

By:MoneyChai Tax Last Updated: 5 Mar, 2021

Deduction under Section 80D – Tax Benefits for 2020-21

Beyond Section 80 C, Section 80D, 80 DD, 80 DDB & 80 U are some other options to reduce tax liability. You can decrease your taxable income by investing in various tax saving instruments. Normally, we all maximize our tax savings with Section 80C, which is known to most of us. We all spend some… 

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Filed Under: Tax

Should You Purchase Capital Gain Bonds from NHAI & REC to Save Tax?

By:MoneyChai Tax Published: 27 Feb, 2021

Should You Purchase Capital Gain Bonds from NHAI & REC to Save Tax?

Have you recently sold a property and are in a fix? Are you unsure whether to purchase Capital Gain Bonds from NHAI & REC to save tax? There are 3 choices here from which you can take your pick. Purchase another real estate from long term capital gain amount Purchase Capital Gain Bonds from NHAI… 

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Filed Under: Tax

New Tax Regime – Deductions You Can Not Claim (section 115BAC)

By:MoneyChai Tax Last Updated: 1 Feb, 2020

New Tax Regime – Deductions You Can Not Claim (section 115BAC)

First of all, let me tell you that the new tax regime is optional. An individual can either opt for old tax regime or new tax regime. Under old tax regime, an individual can still opt for all the tax deduction which are available for FY 2019-20. But it is not the same case with… 

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Filed Under: Tax

Taxation On ULIP Surrender – A Big Mess

By:MoneyChai Insurance, Tax Published: 14 Jan, 2020

Taxation On ULIP Surrender – A Big Mess

It’s widely believed that insurance as an investment is a bad product and I’m in complete agreement with the same. But what if you’ve already invested your hard-earned money in ULIPs and you want to come out of it? Be prepared for a big mess if your ULIP hasn’t completed 5 years and you’re thinking… 

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Filed Under: Insurance, Tax

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About Us

Hi,
I am Ajay Pruthi, an alumnus of NIT Jalandhar and K.J. Somaiya Institute of Management Studies. I have over 10 years of experience in the field of insurance and have worked with top two private insurance players in the country.

I am a Certified Financial Planner and currently working as a Paraplanner with Mr. Melvin Joseph, founder of Finvin Financial Planners.

If you liked my blog and want to discuss further on comprehensive fee only financial planning, feel free to get in touch by visiting Finvin Financial Planners.

 

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