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A Guide To Section 80 Deductions

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Does saving on income tax feature on your to-do list? Section 80 of the Income Tax Act provides a wide range of tax-saving avenues. Here is an overview of what it offers.

Section 80 deductions

  • Section 80C

You can claim a tax deduction of up to Rs 1.5 lakh under this section through multiple tax-saving options. These include:

  • Public Provident Fund (PPF),
  • National Pension Scheme (NPS),
  • Life insurance premium,
  • Children’s tuition fees paid,
  • Home loan principal repayment,

…and many others.

  • Section 80D

Your medical insurance premiums are tax-deductible. Here’s how much you could claim: 

  • Deduction of Rs 25,000 on premium paid for self, spouse, and dependent children. Limit increases to Rs 30,000 in case of senior citizen family members.
  • Additional Rs 25,000 deduction on premium paid for parents under 60 years of age. Limit increases to Rs 30,000 for senior citizen parents. 

Uninsured senior citizens can claim up to Rs 50,000 on medical expenditure. There is an extra deduction of Rs 50,000 on medical expenses incurred for your uninsured senior citizen parents.

  • Section 80DD

Expenses incurred while taking care of a disabled dependent are tax-deductible. Claim up to Rs 75,000 in case of 40% disability and Rs 1.25 lakh for 80% disability.

  • Section 80DDB

Expenditure incurred on specified diseases for yourself or a dependent fetches a Rs 40,000 deduction for those under 60 years and up to Rs 1 lakh for senior citizens. However, you must provide a detailed prescription from a specialist doctor to make this claim. Any insurance reimbursement received is subtracted from the deduction.

  • Section 80E

Claim tax deductions on interest payments on education loans for up to eight years or until the interest is paid off (whichever is earlier). The loan could be taken for yourself, a spouse, a child, or any individual for whom you … Read the rest

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Business news,Business daily,Business ideas,Business insider,Business letter,Business line,Business plan,Business proposal,Business times,Business world,Online businessWhen choosing a enterprise idea, it is good to look at your strengths, ability set, and stuff you’re already keen about. There are some good free assets obtainable on-line that provide steering on starting your catering business and canopy topics resembling business planning, marketing and insurance coverage. There is no end of people that will promote you a lackluster gadget or a ho-hum service. There is a large demand for Christian singles providers online – especially within the U.S.

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Business news,Business daily,Business ideas,Business insider,Business letter,Business line,Business plan,Business proposal,Business times,Business world,Online businessNo matter how rewarding your full-time job could also be, finding the best side enterprise ideas and finally turning into absolutely self-employed is much more meaningful than great pay and solid advantages. Must you be thinking of starting a house enterprise on-line whereas still working in a job, the hours that you’ll have accessible to devote to constructing your online business can be minimal and therefore ideally it is advisable build a business that’s going to earn most earnings with minimal enter, yet continues to pay you for years to return.

Ramit Sethi, enterprise coach and creator of the site , has a uniquely direct methodology of determining a business idea’s viability with a requirement matrix ” damaged into four quadrants: High Finish (high price, few prospects), Mass Market (low value, many purchasers), Golden Goose (excessive price, many purchasers), and Labor of Love (low worth, few prospects).

Starting your personal enterprise from house is an effective way out. Finally, that you must be sure that your product category and product pages are search engine optimized to successfully market these merchandise. Concepts are the place all of it starts, and so as to start a business it’s essential to find one, after which know whether you have acquired an excellent one in your fingers.

In the midst of the digital era, an increasing number of individuals are arising with creative and profitable on-line business ideas and reaping the advantages of being their own boss. Listen to my interview with serial entrepreneur and investor, Michele Romanow about how she built an app that earned $500,000 in three months (as a facet enterprise thought outdoors of her day job) and the way she finally bought the company to Groupon.

To help get you began we’ve come up with an inventory of online” and … Read the rest

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Even in the event you resolve to depart the home, there are more than enough enterprise ideas floating round that require little time and sources to launch. With a inventive mind and a few advertising and marketing chops, you can create a worthwhile digital company. In fact, even when I had enterprise concepts to provide out, I couldn’t give everyone the identical enterprise concepts.

Having an online presence has grow to be mandatory for businesses at this time. A truck, shifting gear, manpower, and the proper permits and insurance are the constructing blocks of starting your own moving company Before you buy your first fleet of vehicles, nonetheless, start small with a transferring van and maintain your prices low. This type of internet online affiliate marketing can earn you up to 50% or more in fee, has comparatively low boundaries to entry, and it’s easy to search out products to promote.

Whereas it does take licensing to grow to be a massage therapist, starting a massage therapy enterprise could be … Read the rest

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Your Guide to Choose a Good Real Estate Agent

If you are planning to sell your home using the real estate agent, choosing a realtor may be the most crucial decision you make. As there are many real estate agents in Jacksonville actively working to help you out, your process should not be hard.  Look at Sell my house fast jacksonville for more information about trusted house buyers in Jacksonville, FL.

Real Estate Agent

An excellent real estate agent is one who can ensure you make a deal that can fulfill all your requirements in the best possible way. Most of the people make a mistake is choosing the very first agent they encounter, which may sometimes cost a lot. A much better strategy is to do some research and uncover several agents and choose the best one which fulfills your criteria. You can easily find the right candidate by:

It may require some extra effort from your side, but worth a lot as purchasing a property is a significant investment. All the real estate agents in Jacksonville will try to show you that they are the best, but it’s you who will determine which one is. And this can only be evaluated by conducting interviews with different candidates considering their education, experience, and past performances.

Checking Qualifications

Choose the candidate who is long enough in the real estate Jacksonville FL industry to acquire thorough experience and has been a part of many deals. In every field, you may find some professionals who perform pretty well because they know what they are doing and are good at what they do. Look for such an agent and make sure his previous clients are satisfied, and no complaints were filed against him.

Personalizing relationship

As selling a real estate Jacksonville FL also incorporates some emotions with it, it’s a must you … Read the rest

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