How to Save Maximum Income Tax in 2020-21?

Maximum Income Tax Savings for FY 2020-21 are explained for Old Tax Slabs and New Tax Slabs. Lets learn how to do tax planning and save maximum income tax in both old tax slab and new tax slab.

Download ETMONEY application: https://play.google.com/store/apps/details?id=com.smartspends

Related Videos:

Income Tax Slabs, Tax Rates & Calculation for FY 2020-21: https://youtu.be/3zgKbT7eps4
Home Loan Tax Benefit in 2019-20: https://youtu.be/SG3BM6iV4jI
EPF (Employee Provident Fund): https://youtu.be/-6RVMKxjoKE
Term Insurance Plan: https://youtu.be/q7iGqIna4Ss
NPS (National Pension Scheme): https://youtu.be/jmPZ73I2J2Q/
ELSS: https://youtu.be/bLOaHUBnueM
Sukanya Samriddhi Yojana: https://youtu.be/7r4gLvXQSqI
Public Provident Fund (PPF) Account: https://youtu.be/002F3UXySiM
HRA (House Rent Allowance): https://youtu.be/Eq8agdLjBTk

Tax can be saved by using various options like HRA (House Rent Allowance), Home Loan, Joint Home Loan, Education Loan and various tax saving investments under section 80C. Section 80C investments include EPF (Employee Provident Fund), School Tuition Fee, Home Loan Principal, Insurance Premium (Term Insurance, Endowment Plans or ULIP Premium), NPS (National Pension System), ELSS (Equity Linked Saving Scheme) i.e. Tax Saving Mutual Funds, PPF (Public Provident Fund), Sukanya Samriddhi Scheme, Post Office Deposits, National Savings Certificate (NSC), Senior Citizen Saving Schemes and Tax Saving FD etc.

We will see how to use these various schemes to maximize our income tax savings.

एचआरए (हाउस रेंट अलाउंस), होम लोन, ज्वाइंट होम लोन, एजुकेशन लोन और सेक्शन 80 सी के तहत विभिन्न टैक्स सेविंग इनवेस्टमेंट जैसे विभिन्न विकल्पों का उपयोग करके टैक्स बचाया जा सकता है। धारा 80 सी के निवेशों में ईपीएफ (कर्मचारी भविष्य निधि), स्कूल ट्यूशन शुल्क, होम लोन प्रिंसिपल, बीमा प्रीमियम (सावधि बीमा, बंदोबस्ती योजना या यूलिप प्रीमियम), एनपीएस (नेशनल पेंशन सिस्टम), ईएलएसएस (इक्विटी लिंक्ड सेविंग स्कीम) यानी टैक्स सेविंग म्युचुअल शामिल हैं। फंड, पीपीएफ (पब्लिक प्रोविडेंट फंड), सुकन्या समृद्धि योजना, पोस्ट ऑफिस डिपॉजिट, नेशनल सेविंग सर्टिफिकेट (एनएससी), सीनियर सिटीजन सेविंग स्कीम्स और टैक्स सेविंग एफडी आदि।

Share This Video: https://youtu.be/av0RW9CFKOE

Subscribe To Our Channel and Get More Finance Tips:
https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g

To access more learning resources on finance, check out www.assetyogi.com

In this video, we have explained:
1. How to claim maximum tax deduction in old and new tax structures?
2. Can salaried people change their tax structure every year?
3. Can business owners change their tax structure every year?
4. How can we save maximum income tax?
5. Which tax saving investment option can we claim in the new tax structure?
6. What are the Home loan tax benefits?
7. How much interest deduction can we claim in self occupied property in a year?
8. Under section(24) how much amount can we claim in Loss from property?
9. What are the additional deductions in Home Loan.
10. Can we claim tax deduction on Education loan?
11. Investment advice for salaried person
12. How much amount we can claim under section 80D?
13. What is the overall limit of section 80C tax deduction?
14. Can we claim tax deduction by paying tuition fees?
15. How much we can save tax by investing in NPS(National Pension System), PPF(Public provident Fund), TERM INSURANCE, ELSS, SUKANYA SAMRIDDHI YOJNA, EPF (Employee Provident Fund)?
16. In old tax structure how much tax we can save in HRA (House Rent Allowance)?
Hit the bell icon, Click the Like button & share the video.

Other Great Resources:
AssetYogi – http://assetyogi.com/

Follow Us on:

Twitter - http://twitter.com/assetyogi
Pinterest - http://pinterest.com/assetyogi/
Instagram - http://instagram.com/assetyogi
Facebook – https://www.facebook.com/assetyogi
Tik Tok - http://vm.tiktok.com/PGJn8D/
Instagram - http://instagram.com/assetyogi
Linkedin - http://www.linkedin.com/company/asset

Hope you liked this video “How to Save Maximum Income Tax in 2020-21?”

Видео How to Save Maximum Income Tax in 2020-21? канала Asset Yogi