Effective tax planning is more than filing returns—it’s about smart financial decisions that cut liabilities and boost savings. At TaxComp, our experts ensure you maximize benefits, stay compliant, and plan for long-term success.
Stay fully aligned with the latest tax laws and avoid penalties or audits.
Professionals tailor tax plans based on your income, investments, and financial goals.
Get guidance not just for the present, but to secure long-term tax efficiency.
A tax advisor takes the guesswork out, making the process smooth and worry-free.
At TaxComp, we specialize in smart, personalized tax planning designed to minimize your liabilities and maximize your savings. Whether you're a salaried individual, business owner, or professional, our expert team stays updated with the latest tax laws to ensure you're always compliant and ahead of the curve. With TaxComp by your side, tax planning becomes simple, strategic, and stress-free.
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Section
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Deduction for FY 2023-24 (AY 2024-25)
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Maximum limit
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Who can invest?
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Popular investment options such as PPF, LIC, Mutual Funds, FD, Sukanya Samriddhi Account, child
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Upto Rs 1,50,000
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Individual Or HUF
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Pension Funds
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Upto Rs 1,50,000
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Individuals
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Atal Pension Yojana and National Pension Scheme Contribution
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Upto Rs 1,50,000
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Individuals
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Atal Pension Yojana and National Pension Scheme Contribution (additional deduction)
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Upto Rs 50,000
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Individuals
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National Pension Scheme Contribution by Employer
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Amount Contributed or 14% of Basic Salary + Dearness Allowance (If the employer is Government) 10% of Basic Salary+ Dearness Allowance(any other employer) - Whichever is lower
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Individuals
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Medical Insurance Premiums, Medical Expenditures, and preventive health checkups
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Upto Rs 1,00,000
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Individual Or HUF
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Medical Treatment of a Dependent with Disability
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Normal Disability (at least 40% or more but less than 80%): Rs 75000/- Severe Disability (at least 80% or more) : Rs 125000/-
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Individual Or HUF
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Medical expenditure for treatment of Specified Diseases
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Senior Citizens: Upto Rs 1,00,000 Others: Up to Rs 40,000
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Individual Or HUF
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Interest paid on Loan taken for Higher Education
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No limit up to 8 assessment years
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Individuals
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Interest paid on Housing Loan
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Upto Rs 50,000 subject to some conditions
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Individuals
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Interest paid on Housing Loan
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Upto Rs 1,50,000/- subject to some conditions
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Individuals
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Interest paid on Electric Vehicle Loan
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Upto Rs 1,50,000/- subject to some conditions
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Individuals
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Donation to specified funds/institutions. Institutions
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100% or 50% of the Donated amount or Qualifying limit, Allowed donations in cash up to Rs.2000/-
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All assessees
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Income Tax Deduction for House Rent Paid
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Rs. 5000 per month 25% of Adjusted Total Income Rent paid - 10% of Adjusted Total Income - whichever is lower
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Individual
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Donation to Scientific Research & Rural Development
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100% of the amount donated. Allowed donations in cash up to Rs.10,000/-
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All assessees except those who have an income (or loss) from a business and/or a profession
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Section 80GGB |
Contribution to Political Parties
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100% of the amount contributed No deduction is available for contributions made in cash
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Companies
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Individuals on contribution to Political Parties
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100% of the amount contributed No deduction is available for contributions made in cash
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Individual, HUF, AOP, BOI, Firm
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Royalty Income of Authors
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Rs.3,00,000/- Or Specified Income - whichever is lower
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Individuals (Indian citizen or foreign citizen being resident in India)
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Royalty on Patents
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Individuals (Indian citizen or foreign citizen being resident in India)
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Individuals (Indian citizen or foreign citizen being resident in India)
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Interest earned on Savings Accounts
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Upto Rs. 10,000
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Individual Or HUF (except senior citizen)
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Interest Income earned on deposits(Savings/ FDs)
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Upto Rs. 50,000
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Individual over 60
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Disabled Individuals
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Normal Disability: Rs. 75,000/- Severe Disability: Rs. 1,25,000/-
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Individuals
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The basic documents would include PAN, Aadhaar, Form 16 if held as an employee, statements from banks, and proof of investment towards tax savings. For capital gains and business income, additional documents are required, but do not worry; we will guide you step-by-step.
Relax- we have got your back in this case. Our experts will go through the notice, interpret it in a language you can understand, and respond to the department on your behalf. We will be timely, and your answers will be complete so that it leaves you worry-free.
Definitely! Our expertise lies in the filing of taxes as per traders dealing with stocks, mutual funds, cryptos, and derivatives. We can help you compute capital gains, carry forward losses, and provide audit defence if required.
No, as per law, but it might help you during your visa applications, loan approvals, and TDS refunds. It will also keep a clean financial history with the Income Tax Department.
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