Finance Buddy

The much-anticipated Ram Temple Pran Pratishtha in Ayodhya is scheduled to fall on Monday, January 22, therefore the day will live on forever in history. Through the Shri Ram Janmabhoomi Teerth Kshetra Trust, individuals from all around the world can donate money and receive tax deductions under Section 80G of the Income Tax Act of 1961. Section 80G (2) (b) of the Income-tax Act, 1961 allows deductions for contributions made for the purpose of renovating or repairing the Mandir to Shri Ram Janmabhoomi Teerth Kshetra, subject to further conditions. However, there are particular conditions in order to claim deductions for donations made to the Ayodhya Ram Temple. Which Tax Regime To Opt For Claiming Deductions On Donations Made For Shri Ram Janmabhoomi Teerth Kshetra Trust? According to Mr. Sujit Bangar, Founder, Taxbuddy.com, donations to Shri Ram Janmabhoomi Teerth Kshetra Trust can save income tax too! If one donates for the renovation/repair of Ram Mandir Ayodhya, 50% of the donatio...

Taxbuddy.com Founder Sujit Bangar , in an exclusive conversation with ET Now Swadesh, said that ELSS has a maturity period of 3 years. If you are doing SIP then let each SIP complete for 3 years. There is tax exemption on investment under 80C. Source Link: https://www.youtube.com/watch?v=y4mqvbjNP9w  Website Link:  https://www.taxbuddy.com/

Deduction against school fees may be de-coupled from Section 80C and separate deduction may be offered for this purpose in the upcoming interim Budget 2024 ,   says   Sujit Bangar , Founder,  Taxbuddy.com . In an interview with   MintGenie , Bangar said that the interim Budget may not suggest any changes in tax rates, but major changes in personal taxation may take place. Edited Excerpts:         Q. This is the last Budget of the existing government. What are your expectations from the interim Budget? This would be a vote on account. The full Budget will be presented by the new government after the results of the general elections are declared in May 2024. Therefore, expectations of some big bang changes can’t be there. However, modifications and alterations in personal taxation are quite possible.      Q. Past interim Budgets have never announced any major tax reforms . Do you think things will be different this time ? The int...