Watch this fun-to-learn video to understand the nitty-gritty of tax saving investments for salaries employees.
• Tax numbers show that salaried employees pay more taxes than business owners. On an average, a salaried employee pays Rs. 76,306 while on the other hand, business owners pay 25,753 Rs. per head.
• Tax liability is calculated based on the components of your pay slip, which includes basic pay and bonus payments, along with house rent allowance, leave travel allowance, conveyance allowance, etc. Therefore, it is advisable to study tax saving investment schemes along with income tax slabs.
• Under section 80C of the Income Tax Act, investment options like public provident fund, fixed deposits, and equity linked savings scheme qualify for tax deduction. These schemes suit your time horizon, investment goals, and lock in preferences.
• Besides, salaried employees can also decrease their tax burden by availing health insurance.
Also, if you have taken a home loan, then interest payment of that loan is tax deductible as per Section 24 of the Income Tax Act.
---------------------------------------------------------------------------------------------------
OPEN FREE DEMAT ACCOUNT WITH IIFL Securities💰: https://bit.ly/3hY1BV6
DOWNLOAD THE IIFL MARKETS APP 📱: https://bit.ly/3wzSVcD
---------------------------------------------------------------------------------------------------
Time Stamps -
00:00 - IIFL Markets | Intro
00:02 - How much tax do salaried employee and business owner pay
00:25 - What is pay slip and its components
00:44 - Section 80c
01:01 - National pension system
01:23 - Schemes for tax saving
01:31 - Health insurance
01:42 - Home loan
01:50 - Closing remark
----------------------------------------------------------------------------------------
To watch more videos on Stock Updates,
▶️ SUBSCRIBE TO IIFL MARKETS👉 https://bit.ly/3zdyHHJ & hit the 🔔 to watch our videos first.
🌐 LEARN MORE ABOUT STOCKS: https://bit.ly/3idZJI0
------------------------------------------------------------------------------------------
FOLLOW US FOR STOCK UPDATES ON:
📩 Facebook: https://bit.ly/3rg2DkY
📸 Instagram: https://bit.ly/3ibnaS9
🐦 Twitter: https://bit.ly/3AJwlSJ
💼 LinkedIn: https://bit.ly/3s3ipPF
------------------------------------------------------------------------------------------
Check Out Our New Blogs:
1. Common Mistakes while Trading Online by First Time Traders: https://bit.ly/3hvIOQC
2. Demat Account Aims and Objectives: https://bit.ly/3hdN5JQ
3. How Does Demat Account Work: https://bit.ly/3dB4c60
4. Demat Account Opening Charges: https://bit.ly/2SIkiUd
5. How to Open Demat Account: https://bit.ly/2TkR0vh
------------------------------------------------------------------------------------------
Related Video Links :
1) Trading at Home | Stay Home Stay Safe : https://bit.ly/31mSid6
2) 5 Things To Know About Loan Against Demat : https://bit.ly/3mPXHkx
3) Know 5 Major Differences Between Shares & Bonds : https://bit.ly/34hzwVC
------------------------------------------------------------------------------------------
Customer Service: 1800 3000 1155
#TaxSavingInvestmentsForSalariedEmployees #TaxSavingInvestments #IIFLSecurities #SalariedEmployees #PaySlipMeaning #WhatIsNationalPensionSystem #Section80c #NationalPensionSystem #HomeLoanMeaning #EquityLinkedSavingSchemes #InvestWithIIFL #InvestInDigitalGold #EarnWithIIFL #MakeProfitWithIIFL #IIFLMarkets #IIFLTradingAc #IIFLDematAc #ShareProfit #ShareLoss