Witryna4 godz. temu · The tax liability on a taxable income of Rs 7.05 lakh would be only Rs 5,000, instead of Rs 25,500. This benefit breaks even on taxable income of Rs 7.27 lakhs. 9. Selection of Tax regime: The selection of tax regime depends on the quantum of income and deductions and allowances one can claim. There is no thumb rule applied … WitrynaAnswer (1 of 6): PPF is one of the few investment which falls under EEE category. This means tax exemt on investment, tax exempt on interest earned and Tax exempt on …
How to maximise your tax refund: Strategies for smart filing - MSN
Witryna4 sie 2024 · Here are some of the NRI PPF Rules to ponder for PPF account for NRI: The interest earned is tax exempt under Section 10, while the principal qualifies for a … Witryna1 dzień temu · The PPF account has a 15-year lock-in duration that may be extended in five-year increments, and it offers a higher interest return on deposits. Partial withdrawals from the account are allowed ... new pay finance
Is interest on PPF now taxable due to Budget 2024?
Witryna2 dni temu · PPF Interest Rate History till April 2024: While the current Public Provident Fund Interest Rate (PPF) is just 7.1%, there was a time when this scheme used to offer 12% interest but the deposit ... Witryna4 cze 2024 · Only interest or even employers contribution? If you have a Provident Fund, I strongly suggest you work with a tax professional that is familiar with PFIC (Passive Foreign Investment Company) reporting. WitrynaDeposits to a PPF account are exempted from the taxation up to a maximum of Rs. 1.5 lakh in a FY under Section 80C of the Income Tax Act, 1961. The second exemption … introtech coco floor mat