Tax - Legal

Income Tax Simplified

Tax - Legal

Income Tax Simplified

What is a tax and why we have to pay it? In today's world, it is difficult to imagine any country without taxes. Tax is a mandatory, legally required payment that a citizen pays to the government. It is based on a person's income, regardless of his or her economic standing.

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Laxmi Khuman

August 21, 2021 - 3 min read

How Much Income Tax Am I Liable To Pay? Different Tax Slabs Explained

Tax - Legal

How Much Income Tax Am I Liable To Pay? Different Tax Slabs Explained

As your income rises, so does the amount of money you pay in taxes. This article will assist you in comprehending the various tax slabs established by the Indian government for people with various income levels.

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Vineet Golani

September 30, 2021 - 4 min read

Section 80 TTB - Interest Deduction for Senior Citizens

Tax - Legal

Section 80 TTB - Interest Deduction for Senior Citizens

Do you want professional advice on your income tax return? We are here for you, with equiseed wealth get an expert opinion on your income tax filings to optimize your refund and tax savings. You can file income tax returns in three simple steps.

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Roshni Bhagtani

October 20, 2021 - 3 min read

Section 80 TTA - Claiming Deductions On Interest

Tax - Legal

Section 80 TTA - Claiming Deductions On Interest

Various deductions under the Income Tax Act seem to be quite complicated? With Equiseed Wealth, you can file your income tax return in three simple steps and get a personalized solution to optimize your refund. Let's understand more about Section 80 TTA - Claiming Deductions On Interest

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Roshni Bhagtani

October 20, 2021 - 4 min read

Tax deductions

Tax - Legal

Tax deductions

A tax deduction is a deduction wherein the person paying income tax can lower his/her tax liability by subtracting the deductions from his/her total income. Deductions are in short expenses incurred by the taxpayer during the financial year. Deductions are very beneficial for those taxpayers you come under the tax slab. We decode these Deductions for you in our blog

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Vineet Golani

October 26, 2021 - 5 min read

Section 80 E - Interest Deduction on Education Loan

Tax - Legal

Section 80 E - Interest Deduction on Education Loan

If you are considering or have already taken out an education loan, you should be familiar with Section 80 E, which covers interest deduction on education loans. It's tax implications and knowing about this deduction might help save money on your taxes.

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Roshni Bhagtani

October 27, 2021 - 3 min read

Section 80U - Deduction for the Disabled Persons

Tax - Legal

Section 80U - Deduction for the Disabled Persons

At Equiseed Wealth, we have our users covered whether it’s knowledge impartation or simplified taxation. In this section 80U, we have explained deduction in the case of a disabled individual taxpayer. This section is different from section 80DD. Let’s take a closer look at section 80U.

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Roshni Bhagtani

October 27, 2021 - 3 min read

Section 80GG - Deduction for Rent Paid

Tax - Legal

Section 80GG - Deduction for Rent Paid

Most individuals cannot claim a deduction under section 80GG since this section only applies to those who are self-employed or get HRA as part of their salary. If you are a self-employed person or do not receive HRA you must go through this section to know more and if you are eligible you can save taxes by claiming a deduction under this section.

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Roshni Bhagtani

October 28, 2021 - 3 min read

Section 80D Medical Insurance Deduction

Tax - Legal

Section 80D Medical Insurance Deduction

Section 80D addresses the most significant yet basic deduction, of the medical insurance premiums. There are still the vast majority of people that are not covered under health insurance and to improve this situation government encourages health insurance through the inclusion of section 80D. Section 80D gives relief on premiums paid.

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Roshni Bhagtani

October 29, 2021 - 3 min read

Section 80C - Deduction on Investments

Tax - Legal

Section 80C - Deduction on Investments

Deductions under Section 80C might be rather extensive and intimidating, but it's crucial to understand everything that 80C covers so that you can make an informed decision. 80C provides a deduction amount of Rs. 1.5 Lakh if you have exhausted this limit you will be able to save a good amount of taxes.

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Roshni Bhagtani

November 15, 2021 - 5 min read

Section 80EE - Home Loan Interest

Tax - Legal

Section 80EE - Home Loan Interest

According to the guidelines, if you claim deduction under section 80EE, you cannot claim deduction under section 80 EEA, and vice versa. You can claim a deduction under section 24 at the same time. Even though both sections serve the same goal, it is still necessary to go through both sections and determine which section you fall into.

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Roshni Bhagtani

December 13, 2021 - 3 min read

Section 80EEA -Deduction on Home Loan Interest

Tax - Legal

Section 80EEA -Deduction on Home Loan Interest

If you are intending to buy a house or have already purchased one, you must read Section 80 EEA, which covers a deduction in addition to Section 24. Section 80 EE and Section 80 EEA were introduced to provide tax relief on the interest component of a house loan as part of the government's goal of housing for everyone.

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Roshni Bhagtani

December 13, 2021 - 3 min read

Section 80RRB: Deduction on Royalty Income

Tax - Legal

Section 80RRB: Deduction on Royalty Income

Section 80RRB: Royalty Income Deduction This clause allows a person to claim a tax deduction for royalties received. If you fulfill the following basic conditions, you can claim a deduction under Section 80RRB: Individuals who possess an original patent are the only ones who can take advantage of the deduction. If the taxpayer has another source of income, just the royalty amount is allowed as a deduction.

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Roshni Bhagtani

December 13, 2021 - 3 min read

Section 80DD - Deduction for Disabled Dependent

Tax - Legal

Section 80DD - Deduction for Disabled Dependent

If a taxpayer has claimed deduction under section 80U then you cannot claim deduction under section 80DD. Section 80DD was introduced to give tax relief to the taxpayer with a disabled dependent. To claim deduction under this section there are certain criteria you need to adhere to.

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Roshni Bhagtani

December 13, 2021 - 3 min read