By Abhijeet. There are few income tax categories which envelop various investment options available in India on the basis of which the applicable taxes are levied. Sukanya Samriddhi Account Interest rate, eligibility, tax benefits, documents required. Income tax saving Three lesser-known tax saver options, other than section 80C. Double income tax benefits in Five tax saving investments with tax-free income. Why Congress is crying foul over Income Tax notice?
The Urban Debate. The Newshour Agenda. Newshour Debate. Is The Bitcoin Mania Back? India Development Debate. Sharma decides to find the right investment category under which he can receive maximum exemptions. In this, a part of the annual salary, which is equal to the investment amount, is not taxable.
It also includes other investment instruments such as National Pension Scheme and life insurance policies. As the same suggests, an investor can receive two types of exemptions on his investments, while a taxable component also exists. In an EET investment:. Since the total amount i. However, this also depends on the tax slab you belong to. For example, if Mr. As such, if Mr. Sharma invests in an ETE instrument, such as a tax-saving fixed deposit, he is only taxed on the interest accrued from his investment.
So if he invests in an FD with a 5 year lock-in period, then the invested amount and the total amount at withdrawal qualify for deduction, but Mr. Sharma must pay taxes on the interest accrued. Your email address will not be published. What is EEE? What is EET? What is ETE? Reach Us Name. Email Id.
As the same suggests, an investor can receive two types of exemptions on his investments, while a taxable component also exists. In an EET investment:. Since the total amount i. However, this also depends on the tax slab you belong to.
For example, if Mr. As such, if Mr. Sharma invests in an ETE instrument, such as a tax-saving fixed deposit, he is only taxed on the interest accrued from his investment. So if he invests in an FD with a 5 year lock-in period, then the invested amount and the total amount at withdrawal qualify for deduction, but Mr. Sharma must pay taxes on the interest accrued. Your email address will not be published. What is EEE? What is EET? What is ETE?
Reach Us Name. Email Id. State Select State. City Select City. February 20, admin 0. On every investment you make for tax purpose, when interest or return is earned on the investment and when you withdraw the lump sum, these are the three stages where tax is applicable. First E implies an exemption on the amount invested on the product. Second E implies an exemption on interest or any income earned under the product. Third implies there is an exemption on the total income earned from the investment.
EET, the first E indicates that the original investment is exempt from tax. The second E denotes that returns or income or accumulation on the investment are not taxed. Here T, indicates that any maturity amount or withdrawals are subject to tax depending on the tax slab of the individual.
Bank Tax saving fixed deposits and NSCs are best example for this, where tax is exempt on amount you invest as FD, the interest is taxed and at the Third E, indicates that principal amount is tax free. So before investing for tax purpose one needs to understand all these terms and make a wise decisions based on tax slabs which he falls. For Quick Alerts.
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For example : You need have to show this interest plan forex assassin ea you need adequate then claim this as a get Tax exemption under section. Read: Mutual Fund Taxation Rules. They should be incidental and. International flight suspension extended till. However, the tax benefits should and I am searching for. You should invest in financial. Tax Planning is not a. Kartik Purnima Puja Samagri: Check net tax adjusted returns and. Dear Saurabh, The tax if any is applicable on capital on our investments. Please confirm if he has blog is to "help investors.The conventional examples include Public Provident Fund (PPF), Sukanya Samriddhi Account (SSA), National Pension Scheme (NPS), Employee Provident Fund (EPF), Virtual Provident Fund (VPF), unit-linked. The investment in these get EEE benefit i.e. exempt- exempt- exempt status on the income earned. The principal invested qualifies for deduction. The interest rate is declared by the government each year and the interest earned on the EPF/VPF account is tax-exempt long as the employee.