Tag Archives: Tax planning

Payment of tuition fee can help to reduce your taxes

Introduction: Section 80C of the Income Tax Act allows certain investments in many small savings like NSC, PPF, Pension plans and certain expenditure like payment of tuition fees, life insurance premiums, and payment of principal amount of home loan to be tax exempt. The aggregate amount of deduction permissible under …

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Take Educational Loan and avail Income Tax benefits

Introduction Your education loan can lower you tax payouts. Yes, an individual Tax payer who has taken an Educational Loan, can claim deduction under section 80E of the Income Tax Act towards the interest amounts paid. Extract from the Act “80E. Deduction in respect of interest on loan taken for higher …

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