Sqrrl- Section 80C

1
Sqrrl

• Best Mutual Fund App

2
Filing Your Income Tax Return - Section 80C Can
Help You

• Since the end of the financial year is almost
  here, taxpayers must have started planning and
  fretting about income tax return filing for this
  respective assessment year. However, there is a
  large window of possibility to file the returns,
  taxpayers pause till the last minute to execute
  their investment decisions and take tax-saving
  measures. This further procrastinates the income
  tax return filing process. Amidst the numerous
  tax relief investments available to single
  taxpayers, the ones under section 80C are among
  the most famous ones. Though, the numbers,
  combinations, and terms can be pretty complex
  when it comes to investments and tax relief
  under Section 80C. If you are considering about
  obtaining maximum tax relief under Section 80C,
  these 3 essential points about claiming tax
  deductions will surely benefit you.

3
Before we start, let us understand that
tax-saving steps

• Before we start, let us understand that
  tax-saving steps shouldnt be used on an ad-hoc
  basis or at the closing minute. More often than
  not tax-saving investments are performed at the
  last minute, particularly when the accounts
  department gets anxious about presenting
  investment reports. Usually, when investments are
  made in a rush, it leads to repent very soon and
  you are more than likely to terminate the
  investment after a brief period.
• Tax Benefit Under Section 80CIf you are claiming
  income tax deductions beneath section 80C of the
  Income Tax Act, the highest amount of tax
  deductions that you can receive is Rs. 1.5 lakh.
  If you have consumed the limit of Rs. 1.5 lakh,
  you can get supplementary deductions by
  preserving towards retirement following the
  National Pension System (NPS)

4
Before we start, let us understand that
tax-saving steps

• Nature of tax saving instrumentWhile investing
  to receive tax relief under Section 80C, you must
  realize that there are two types of investment
  instruments accessible under section 80C. While
  some proffer secured returns such as endowment
  plans, PPF, NSC, SCSS, etc., some produce
  market-linked returns. They include ELSS mutual
  funds, ULIPs, and pension plans.No reductions
  on capital gainsThere is one catch, however,
  with Section 80c investments and expenditures. If
  your income constitutes of only capital gains,
  you are not qualified for tax relief under
  section 80C.

5
Thanks for watching us

• For more information visit our online portal
  https//sqrrl.in
• Contact us on 7840877775
• Email us on support_at_sqrrl.in