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Showing posts from March, 2023

Section 80D - A Way of Lowering Your Income Tax

  There is no secret that everyone tries to minimize their tax burden as possible by investing in some favorable scheme. In this regard, Section 80C of the Income Tax Act of 1961 becomes the best alternative for taxpayers since it allows them to claim deductions on provident fund payments, investment for Sukanya Smriddhi Yojana, principal amount payment towards house loans, and other expenses. But, did you aware that Section 80D, enables you to claim deductions for health insurance premiums? Since the majority of Indian residents do not have health insurance and need to rely on savings or loans during a medical emergency, thus the section is often overlooked. T o gain knowledge about the benefits of the section on income tax reduction, you may contact CA Chandan Agarwal & Co. in Kolkata further.   CA Chandan Agarwal & Co. Before that let us first convey the scheme's perks to you.  A Quick Overview of Section 80D - Under section 80D, any individual or Hindu Undivided