Now you will not have to pay a major part of your earnings in the form of tax. You can save your tax by adopting some simple measures.
New Delhi: Every person invests in many places to save tax. Today we are going to tell you how you can get tax and income tax exemption.
We invest in many such things, in which we get tax exemption on investing.
Pre nursery fees come under rebate
Most people know that there is a tax exemption on tuition fees of children. But very few people know that there is an exemption in tax on the fees of children studying in play school, pre-nursery and nursery.
This system was introduced in the year 2015. Under Section 80C, you can get a maximum exemption of up to Rs 1.5 lakh on tax.
This rule only applies to the fees of two children, if you have twins, then you can avail this facility on the fees of three children.
Discount will be given for buying a new house
While buying a new house, you have to pay stamp duty and registration fees. You can avail tax rebate on this amount.
Under Section 80C, you can avail tax exemption in the financial year in which you bought a new house.
Parents will get rebate on payment of interest
If you have taken a loan from your parents for any work and you are paying interest on it, then you can avail income tax exemption on the basis of that interest.
You can avail exemption up to a maximum of two lakh rupees under Section 24B in this situation.
However, you must have proof of paying interest to your parents.
Parents pay house rent
If you live in a house that is in the name of your parents and you pay rent for this, then you can avail tax rebate on that amount.
Under Section 10 (13A), you have paid more than 50 percent of your basic salary or 10 percent of your total salary.
You can avail tax rebate on that amount.
Exemption in expenses on treatment of parents
If you spend a lot of money on the treatment of your parents, then you can avail tax exemption on this amount under Section 80D.
Under this rule, you can avail a discount of up to a maximum of 50 thousand rupees.
