Plan your tax investments

Can I obtain an emergency, no credit check loan even if I’m unemployed?

What does no credit check mean? If you’re lucky, you’ll be able to say yes. The lender must verify that you’ve enough cash in order to repay the loan. Therefore all those with various types of income are encouraged to apply. Even if you’ve got money from student or child aid, you’re eligible.

Which are best investment opportunities to lower tax?

As previously mentioned as mentioned above, the government has allowed certain tax deductions for amounts that are invested in specific instruments under article 80C in the Income Tax Act, 1961. Tax savings on the instruments is the equivalent of Rs. 1.5 lakh for each calendar year. This is only available when you opt for the tax system of the past. Particularly those who select this new system of taxation which has tax rates that are favorable but requires some of the tax exemptions and deductions that were available under the tax system of the past.

However it is true that some of the most sought-after tax saving instruments include Employee Provident Fund (EPF), Public Provident Fund (PPF) and term deposits (duration of five year or longer) and life insurance policies equity linked savings (ELSS) funds and funds from the National Pension Plan (NPS) and various retirement plans. The capital invested in these tax-saving measures will not disappear completely. In essence, you are creating an asset that generates cash while reducing taxes. It is important to note that even when you invest more funds in one of these tax-saving strategies Your maximum deduction from tax-deductible income will be only the amount of Rs. 1.5 lakh. However, investing in NPS could earn you an additional amount of Rs. tax deductions of up to 50,000. which brings the total tax deductions to 2 lakh. 2 lakh.

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