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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,690
No. of Employees
61,600+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.53 Lakh Cr
Consolidated Lending Book
INR 1.65 Lakh CrCorporate Governance Policies
- Policy for appointment of Statutory Auditors
- ABCL NRC Policy
- Corporate Social Responsibility
- Fair Practices Code
- Internal Guidelines on Corporate Governance
- Familiarization Programme for Independent Directors
- Disclaimers
- Ombudsman
- Privacy Policy
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- Vigil Mechanism / Whistle Blower Policy
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Financial and Debt-Related Policies
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- Scheme of Amalgamation
- SEBI Disclosures
- Interest Rates & Service Charges
- Discontinued Service provider list
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- Archival Policy
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Read about MoneyMoney management made easy
Read about TaxUnderstanding direct and indirect taxes
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Read about InsuranceInsurance and it's aspects for laymen
Read about InvestingInvestments and their jargon - simplified
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Experience ConseQuest- A game where your decisions drive your future.
Tax Planning
- Multiple tax-saving products on one platform
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Why do you need tax planning?
Choose tax regime & optimise in-hand salary.
Include right set of products based on needs from protection to investments.
Diversify investments to grow investments while saving Tax.
Tax saving options under old tax regime by ABCD
Health Insurance
Premiums paid qualify for deduction under Section 80D
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ELSS Mutual Fund
Investments up to ₹1.5 lakhs are eligible for deduction
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NPS
Invest in the National Pension System and claim an additional deduction of up to ₹50,000
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Tax Saver FD
Invest in tax saver FDs and claim deduction under section 80C.
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Calculate Your Tax Liability Quickly With ABCD’s Income Tax Calculator.
Hello Nishant Sharma you have successfully received sum of ₹60,000 from Saurav Patel (PAN: AXPHJ3345A) towards the rent of property located at 2, Mira Bhyander, Maharashtra 4000067, India. For the period from Jan 2023 to March 2023
Signature
Nishant Sharma
(PAN : AXPHJ3345A)
Revenue Stamp
Taxable HRA
₹ 0Rent Paid in excess of 10% of salary
₹ 050% of Basic Salary
₹ 0Amount of exempted HRA
₹ 0HRA Chargeable to Tax
₹ 0Customer Satisfaction Stories
Feedback from the voices that drive innovation, inspiration and dedication - our customers
Aditya Birla Health Insurance
My trading experience with ABM has been very fruitful. I have always been receiving excellent support from my dealer. Moreover, the transparent business practices at ABM makes it the preferred broker in the industry.
Aditya Birla Money Customer
Mumbai
Aditya Birla Capital Limited
Aditya Birla Health Insurance has been my companion in my weight loss journey of losing 17 Kgs and helping me stay disease-free. Health Returns keeps my whole family motivated to be active and stay fit and each person can do the exercise of their choice
Aditya Birla Health Insurance Customer
Delhi
Aditya Birla Health Insurance
Due to seamless branch support and timely communication from ABSLI, my maturity payout process was quite smooth.
Aditya Birla Sun Life Insurance Customer
Haryana
Aditya Birla Sun Life Pension Management Customer
The digital platform and whatsapp service of ABHFL gives me a quick access to my basic loan details such as statement of accounts, loan account details, interest certificate, and repayment schedule.
Aditya Birla Housing Finance Customer
Gurgaon
Tax planning made easy with the ABCD App
Maximize your tax savings with ABCD app planning. Explore smart strategies to minimize your tax burdens and optimize your financial future with ease and confidence.
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Navigate taxes with smart strategies -
Maximize deductions, minimize liabilities
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Expert advice for effective planning
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Understanding Tax Planning
What is tax planning?
Who is liable to pay tax on income?
Resident individuals with total income exceeding exemption limits as per new or old regime
Non-resident Indians having income in India
Hindu Undivided Families
Companies
Association of Persons
Body of Individuals
Partnership firms
What are the five heads of income ?
Salary income
Income earned as a salaried employee
Income from house property
Rental income from a let-out house property
Income from capital gains
Gains earned from selling capital assets
Income from business/profession
Income earned from a business or a profession
Income from other sources
Income not falling under any of the four heads
What are some of the popular deductions under the Income Tax Act?
- Section 80C - Deduction up to ₹1,50,000
- Section 80CCD (1B) - Deduction up to ₹50,000
- Section 80D - Deduction up to ₹1,00,000
- Section 80TTA - Deduction up to ₹10,000
- Section 80TTB - Deduction up to ₹50,000
- Section 80E - Deduction of education loan interest paid
- Section 24(b) - Deduction up to ₹2,00,000 on home loan interest
What is the difference between gross income and net income?
Gross income
Total aggregated income from all five heads of income
Net income
Gross income minus all the applicable deductions and exemptions allowed under the Income Tax Act
What are some tax-saving investment options?
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Life insurance plans - Premiums paid and benefits received are tax-free
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Health insurance plans - Premiums are allowed as a deduction
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Equity Linked Saving Scheme (ELSS) of mutual funds
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Public Provident Fund (PPF)
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Employees’ Provident Fund (EPF)
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National Pension System (NPS)
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Sukanya Smariddhi Yojana (SSY)
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Senior Citizens’ Saving Scheme (SCSS)
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National Saving Certificate (NSC)
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Kisan Vikas Patra (KVP)
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5-Year Fixed Deposits from banks and post-offices
FAQs On Tax Planning
To lower your taxable income, maximise deductions under Section 80C (investments like PPF, ELSS, ULIPs), Section 80D (health insurance premiums), and Section 80G (donations). Claiming your HRA allowance and travel reimbursements also helps.
You can claim deductions on home loan interest under Section 24(b) up to ₹2,00,000. The principal repaid is allowed as a deduction under Section 80C up to ₹1,50,000. Additionally, stamp duty and registration charges can also be deducted under Section 80C within the limit of ₹1,50,000.
Several options offer tax benefits for child education expenses. You can invest in Equity Linked Saving Schemes (ELSS), Units Linked Insurance Plans (ULIPs) for children, or open a Sukanya Samriddhi Yojana account, all offering deductions under Section 80C up to ₹1,50,000.
Yes, you can claim deductions under Section 80D for medical insurance premiums paid for yourself, your spouse, and your dependent parents.
Yes, donations to specified charitable organizations can be claimed as a deduction under Section 80G, subject to certain conditions and limits.
A tax exemption is an income amount that is not subject to tax, thereby reducing your total taxable income. A tax deduction, on the other hand, is a reduction from your total income that can come from various investments or expenses, which reduces your taxable income.
Yes, filing your return is vital even with TDS. It allows you to claim additional deductions under Sections 80C, 80D, etc., potentially resulting in a refund. Moreover, filing returns is mandatory for claiming credit for TDS deducted or availing benefits like loans.
Yes, senior citizens are allowed additional tax-saving benefits. For starters, the income tax slab rates are different for senior citizens. If you are between 60 and 80 years old, the threshold limit for tax increases to ₹3,00,000. If you are 80+, the limit further increases to ₹5,00,000. Plus, you can claim a deduction on the interest earned from your deposits under Section 80TTB up to ₹50,000.
The new tax regime, introduced in the 2020 budget, offers lower tax rates but does away with most deductions and exemptions available under the old regime.
It is recommended to start the tax planning process as soon as possible so that you have sufficient time to reduce your tax liability. If delayed till the end of the financial year, the last minute rush might result in errors and you might not utilise the tax-saving benefits to their fullest potential.
The different types of tax planning include the following -
- Short-term tax planning - Tax planning is done towards the close of the financial year to save tax by reducing the gross taxable income
- Long-term tax planning - Tax planning is done as the new financial year starts so that you have adequate time to strategise tax-saving activities
- Permissive tax planning - Using the different tax-saving provisions mentioned in the Income Tax Act of 1961 to save tax
- Purposive tax planning - Tax planning is done with specific financial purposes like generating maximum returns, planning for financial goals, etc.
- Marginal tax planning - Under this method, you analyse the impact of additional income or deductions on your marginal tax rate
- Structural tax planning - Under this method the structure is changed to minimise tax liability. For instance, changing the business structure to lower the tax rates.
Tax planning done within the framework of the Income Tax Act and by adhering to the tax guidelines is completely legal.
If you avoid paying taxes on your income, you would be violating legal rules. In such instances, you would face penalties for not paying tax and in extreme cases you might also be imprisoned and become liable for a fine.
The money paid as tax is a source of revenue for the government. The government uses the money to improve the infrastructure and economic condition of the country.
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