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Profits tax area 80C substituted section 88 as well as have actually come to be powerful on first April 2006. This portion offers arrangements for a variety of bills. The entitled taxpayers can easily state reductions of the most total as much as 1.50 Lakh per 12 months. Each folks and also HUFs are actually qualified for income tax rebates under 80C.

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Section 80G of the Income Tax Act offers tax rebates to those making donations to charitable organizations. Some important donation types permit 100% deduction.

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A person who earns a certain amount, which exceeds the limit of the basic exemption, is liable to filing income tax return. It is advisable to file income tax return even if the income is below the basic exemption threshold.