Income Tax Exemptions – a timely alert
Tax Exemption means
for many people it is Section 80C only, but in fact there are many tax exemptions
available in the Income Tax. Act.
Interest paid, health care expenses and some types of investments made
within the IT Act provisions are also eligible for IT exemption. Let us get
acquainted with them.
Income Tax exemption
is available to individuals or to Hindu un-divided families up to one lakh of
rupees under Section 80C of the Act. In case, you have already invested some
amounts, just review them. Remember that tax planning also is an integral part
of your financial planning. Check-up whether you have still some more
investible funds for getting the tax exemptions. Note that such amounts should
be invested before 31.03.2013.
