scorecardresearchIncome Tax Filing: Seven little-known provisions you must not overlook while filing your taxes

Income Tax Filing: Seven little-known provisions you must not overlook while filing your taxes

Updated: 28 Jul 2022, 07:57 AM IST
TL;DR.
  • While the taxpayers (filing returns under the old tax regime) are well aware of the popular and oft-spoken deductions under various sections of Income Tax Act 1961 such as home loan interest, Public Provident Fund (PPF), Employee Provident Fund (EPF), LIC premium, Equity Linked Saving Scheme (ELSS), health and medical insurance, and other tax-saving investments, there are also deductions that are little-known under other not-so-popular sections and sub-sections of the Act.
Capital gains are taxable under the Income Tax Act depending on how long you have invested in the MF.

Capital gains are taxable under the Income Tax Act depending on how long you have invested in the MF.