Savings and Taxation in India

BY-
KESAVA RAO
(19341AO436)
● Savings
● Power of compounding
● Tax slabs
● Tax deductions schemes
50-30-20 Rule of savings.

50% of your income: needs.

● Housing.
● Food.
● Transportation.
● Basic utilities.
● Insurance.
30% of your income: wants.
● Monthly subscriptions.
● Travel.
● Entertainment.
● Meals out.

20% of your income: savings and debt

● Starting and growing an emergency fund.
● Paying off debt, beginning with high-interest
Power of compounding interest

Imagine you started saving 10,000

bucks, With the given interest rates
they yield the following amounts in
the future.
 Slabs of taxation in india
1. For incomes up to 2,50,000 INR, the tax is nil.

2. For income slabs between 2,50,000 to 5,00,000 INR, the income tax is 5%.

3. For income slabs between 5,00,001 to 7,50,000 the income tax is 10%.

4. For income slabs between 7,50,001 to 10,00,000 the income tax is 15%.

5. For income slabs between 10,00,001 to 12,50,000 the income tax is 20%.

6. For income slabs between 12,50,001 to 15,00,000 the income tax is 25%.

7. For people with income above 15,00,000 per year, the income tax is 30%.
80 c amendment for savings
Equity Linked Saving Scheme
ELSS Funds are a class of mutual
funds that are eligible for tax
deductions under the provisions of
Section 80C of the Income Tax Act,
1961. These mutual funds are
equity-oriented and invest up to 65%
of their portfolio in instruments such
as shares.
National pension scheme
The National Pension Scheme also
known as National Pension System
is opened to all the employees from
the public sector, private sector, and
even the unorganized sector
Sukanya Samridhi Yojana

Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for the girl child
launched as a part of the 'Beti Bachao Beti Padhao' campaign. It is currently
8.1 per cent and provides income-tax benefit under section 80C of the Income
Tax Act,1961. Even the returns are tax free in the scheme.
 Thank you

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