Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > 80C Other Savings
80C Other Savings Video Lecture | Income Tax for assessment (Inter Level) - Taxation
|
405 videos|72 docs
|
FAQs on 80C Other Savings Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What is the tax deduction limit under Section 80C? |  |
Ans. The tax deduction limit under Section 80C is Rs. 1.5 lakhs. This means you can claim a deduction of up to Rs. 1.5 lakhs from your total taxable income by investing in eligible instruments mentioned in this section.
| 2. What are the eligible savings options under Section 80C? | |
Ans. There are several eligible savings options under Section 80C, including:
- Employee Provident Fund (EPF)
- Public Provident Fund (PPF)
- National Savings Certificates (NSC)
- Tax-saving Fixed Deposits (FDs)
- Sukanya Samriddhi Yojana (SSY)
- Life Insurance Premiums
- Equity Linked Saving Scheme (ELSS)
- Principal Repayment of Home Loan
- Tuition fees for children's education, and more.
| 3. Can I claim tax deductions for multiple investments under Section 80C? | |
Ans. Yes, you can claim tax deductions for multiple investments under Section 80C. The combined deduction limit for all eligible investments is Rs. 1.5 lakhs. You can choose to invest in one or more eligible options to avail the maximum tax benefit.
| 4. Are the returns from investments under Section 80C taxable? | |
Ans. The returns from investments under Section 80C may or may not be taxable, depending on the specific investment option. For example, returns from Tax-saving Fixed Deposits are taxable, while returns from Public Provident Fund (PPF) are tax-free. It is important to understand the tax implications of each investment option before making a decision.
| 5. Can I claim tax deductions for investments made in the previous financial year? | |
Ans. Yes, you can claim tax deductions for investments made in the previous financial year. The tax deductions under Section 80C are applicable for the investments made during the financial year (April to March). So, if you have made eligible investments in the previous financial year, you can include them while filing your income tax return and claim the deductions.
Related Exams
About this Video
|
Nov 16, 2024 Last updated |
Video Description: 80C Other Savings for Taxation 2024 is part of Income Tax for assessment (Inter Level) preparation.
The notes and questions for 80C Other Savings have been prepared according to the Taxation exam syllabus.
Information about 80C Other Savings covers all important topics for Taxation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for 80C Other Savings.
Introduction of 80C Other Savings in English is available as part of our Income Tax for assessment (Inter Level) for Taxation & 80C Other Savings in
Hindi for Income Tax for assessment (Inter Level) course. Download more important topics related with notes, lectures and mock test series for
Taxation Exam by signing up for free.
Description
Video Lecture & Questions for 80C Other Savings Video Lecture | Income Tax for assessment (Inter Level) - Taxation - Taxation full syllabus preparation | Free video for Taxation exam to prepare for Income Tax for assessment (Inter Level).
Information about 80C Other Savings
Here you can find the meaning of 80C Other Savings defined & explained in the simplest way possible.
Besides explaining types of 80C Other Savings theory, EduRev gives you an ample number of questions to practice 80C Other Savings tests,
examples and also practice Taxation tests.
|
405 videos|72 docs
|
|
Explore Courses for Taxation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
shortcuts and tricks
,MCQs
,mock tests for examination
,Objective type Questions
,80C Other Savings Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,ppt
,Viva Questions
,Important questions
,video lectures
,Extra Questions
,practice quizzes
,Exam
,Summary
,study material
,Free
,Sample Paper
,Semester Notes
,past year papers
,80C Other Savings Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,Previous Year Questions with Solutions
,80C Other Savings Video Lecture | Income Tax for assessment (Inter Level) - Taxation
;
Study 80C Other Savings on the App
Students of Taxation can study 80C Other Savings alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the 80C Other Savings,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of 80C Other Savings is prepared as per the latest Taxation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup