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Tax savings

Tax Saving Options beyond Section 80C

When it comes to making tax saving investments, most of us are well versed with the ins and outs of Section 80C of the Income Tax Act, 1961. However, there is a limit of Rs. 1.5 lakhs on the tax savings that can be availed through the popular 80C investments. In this post, we will see various tax saving options beyond Section 80C. Here is a list of deductions that you can claim other than Section 80C. Use these deductions and reduce your taxable income as much as possible. There are various deductions available

Everything about HOUSE RENT ALLOWANCE HRA in India

House Rent Allowance (HRA) is the allowance given by an employer to an employee considered as the optimum tax saving instrument. HRA is given to meet the cost of a rented house occupied by the employee for his living. The Income Tax Act permits for deduction in respect of the HRA paid to employees. The exemption on HRA is covered under Section 10(13A) of the Income Tax Act and Rule 2A of the Income Tax Rules.  Everything about HOUSE RENT ALLOWANCE (HRA) in India 1. HRA Exemption Any