Download Master of Form 16 Part B which can prepare at a time 50 employees Form 16 Part B for Financial Year 2015-16 as per Finance Budget 2015-16
Download Master of Form 16 Part A&B, which can prepare at a time 50 employees Form 16 Part A&B for Financial Year 2015-16 
Download Master of Form 16 Part B with 12 BA which can prepare at a time 50 employees Form 16 with 12 BA for Financial Year 2015-16
The Government of India provides certain exemption on some
investment in order to encourage savings and for better life. The tax benefits
under section 80C allow one a maximum investment of Rs 1.5 lakh per financial
year. What is 80C deduction? Under the Income Tax Act, 1961, 80C any investment
made under this category are exempt from tax up to the limit of Rs 1.5 Lac per
annum. Please note that all these instruments put together and the entire
amount of Rs 1.5 lakh will be deducted from your taxable income.
Here is quick chart of deduction from total income available
under section 80C. This chart will give you a fair idea of deduction which will
help you while planning your tax.
1) Investment Made In ULIP ULIPS are interesting combination of insurance and investment. If the maturity amount exceeds 10% of the sum assured in any of years, it will be fully taxable.
1) Investment Made In ULIP ULIPS are interesting combination of insurance and investment. If the maturity amount exceeds 10% of the sum assured in any of years, it will be fully taxable.
2) There are many retirement benefit plan offered by many
mutual funds which are eligible under 80C for tax deduction. Say for example,
UTI Retirement Benefit Plan and Templeton India Pension Plan.
3) Provident Fund is one of the popular investment avenue
under Sec 80C. The current rate of return on EPF is 8.67 per cent while that on
PPF is 8.7 per cent.
4) Pension policies offered by insurance companies where
benefits were earlier available under section 80CCC.
5) Life Insurance Premiums All premiums paid for life
insurance are eligible under 80C, but the policy should not be surrendered
within three years of buying it.
6) If you are paying equated monthly installment (EMI) on a
home loan. Please note that only principal part of the EMI is eligible u/s 80C.
Also, the interest part is also eligible for tax deduction u/s 24B.
7) Many tax payers are not aware of tuition fee paid during
the year are eligible for tax deductions under 80C.
8) Some change made in budget 2015, made NPS an
attractive investment, investment made under this is eligible under 80CCD. 9)
Other investments like 5 year tax savings fixed deposits from banks and post
office. National Savings Certificate are also eligible under the 80C.
