<div>Check your Tax Planning Quotient<strong>(TPQ)</strong> to save taxes.</div>

When is the best time of the year to start planning your taxes?

Beginning of Financial year

End of Financial year

In the middle of Financial year

Anytime in the year

The following are eligible for tax deduction of up to Rs.1.5 lakhs under Section 80C.

Corporate Bonds, Direct Equity, NPS Tier 2, Residential Plot Purchase.

EPF, PPF, NPS, ELSS, Tuition Fee, Principal Repayment on home loan, Stamp Duty and Registration charges etc.

Health Insurance, Interest paid on Education loan, Interest paid on housing loan.

Travel Insurance, Short-term FDs, Home insurance, Rent Paid

The health insurance policy you have taken for your parents who are Senior Citizens, helps you claim deductions of Rs…… under Section….

1 lakh under Section 80C

1.5 lakhs under Section 80G

50,000 under Section 80D

1 lakh under Section 80E

You can claim tax deduction under Section 80C for your life insurance policy only if

Premium paid per annum is above Rs. 1 lakh.

Sum Assured is greater than or equal to 20 times the annual premium paid.

You have mentioned the nominees.

You take a no-profits insurance plan.

You have to pay tax only on your income and not on sale of your assets such as real estate, shares, bonds etc.

True

False

If your home loan is less than Rs.35 lakhs and the value of your property is Rs.45 lakhs, then the total deduction you can claim on the interest paid on your housing loan is

Rs. 1.5 lakhs

Rs. 2 lakhs

Rs.2.5 lakhs

Rs. 1 lakh

If you are repaying an education loan, then the maximum amount for which you can claim tax deduction on the interest paid is

No Limit

Rs. 1 lakh

Rs. 2 lakhs

No deduction allowed.

An additional deduction of Rs……. Is allowed for NPS Tier 1 investments under section 80CCD

Rs. 25,000

Rs. 50,000

Rs. 75,000

Rs. 80,000

Your donations to approved charities can be claimed as deduction under

Section 80A

Section 80D

Section 80E

Section 80G

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