JavaTechies / Personal Finance

Recently, eligible spends for Leave Travel Concession (LTC) have widened. The government announced a LTC Scheme, whereby salaried individuals can avail exemption when they buy specified goods and services, including new life insurance policies. This exemption can be claimed for deemed LTC fare and is applicable till March 31, 2021. So, when you buy a new life insurance policy, you can now get tax* benefits under the LTC scheme on your life insurance policy. You don't know about - LTC Cash Voucher Scheme : link

1. Select Challan 280 Go to the tax information network of the Income Tax Department and select Challan 280. Click here to go to the government website and pay your tax 2.Enter Personal Info For individuals paying tax, select  . Please choose the Assessment Year correctly  . Choose   if you are paying taxes after the Financial Year has ended. View mandatory fields to be filled in Note:  Choose "(100) ADVANCE TAX" if you are paying taxes during the financial year. Choose "(400) TAX ON REGULAR ASSESSMENT" if you get a demand notice from the Tax Department. 3.Double check info You will be redirected to the net banking page. Double check the information entered here and enter the income tax amount to be paid in the income tax field. Tip:  You can leave surcharge, education cess, interest and penalty blank. 4. Check Receipt (Challan 280) This is your Challan 280. You will be able to see details about your payment on...