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Invest up to INR 1,50,000 in Section 80C-approved instruments to trim your tax liability.
Under Section 80DD, you can claim up to INR 75,000 for expenses related to a dependent with disabilities.
Enjoy up to INR 25,000 in deductions for health insurance premiums covering you, your spouse, and dependent children under Section 80D of the Income Tax Act.
Under Section 80G, any contribution to a rescue fund or a charity is tax-deductible. But a cash contribution of more than INR 2,000 is not available for tax deduction.
Earn interest on savings tax-exempt up to INR 10,000, while senior citizens can avail of a higher limit of INR 50,000 under Section 80 TTB.
Professionals earning above INR 50 lakh must strategize to retain Section 44ADA advantages, preserving financial efficiency near the threshold.
Ensure that you’re filing your ITR prior to July 31 to save effectively on your taxes. This is also important for the purposes of getting a home loan, doing high-value transactions, etc.
* Please note that this webstory is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us