Learn How to Save Income Tax with the help of the wife?
Updated: Monday, April 30, 2018, 9:57 [IST]
Your wife can prove to be very helpful in protecting your income tax. Maybe you will not know this thing. He can not only help you with mental help but also financially. The Indian government has made a special rule regarding women under which Hussband can get tax exemption. There are two ways for this: One can open the account in the wife's PPF and buy a property in the name of the other wife, both of you can save tax but how can you find it in the further slide.

Profit from the PPF account in this way
You can open a public provident fund (PPF) account of your wife because it gives a guaranteed return. Your Wife can deposit up to 1.5 lakh rupees per year in your account. After 15 years, when his PPF account is maturing, he will have a fund of 50 lakh in his account. In this way, if he needs, he can get help of Rs 50 lakh from his wife.

Somehow this will stay the interest rate
At current time, PPF is getting 7.8 percent annually. Accordingly, if you deposit Rs 1.5 lakh every year for 15 years in the PPF account, then the total interest rate at current interest rate will be Rs 43 lakh. The central government reviews the interest rate on PPF scheme every three months. In such a long period, the interest rate on the PPF can also decrease and increase. In such a situation, you can make a fund of about 50 lakhs in PPF account in 15 years. Let us know that in this account, no more than Rs 1.5 lakh can be deposited in a year.

Such tax exemption can be obtained
The biggest benefit of PPF is that the interest paid on the amount deposited in it is tax free. Not only that, the amount received on interest and maturity will be tax free. In such a case, if you invest in PPF under Section 80C to save income tax then you can also take advantage of the tax rebate by showing the amount deposited in your documents.

Buying a property in the name of a wife
If a property is purchased in the name of a woman or the registry of that property in the name of the woman, then you get a discount of up to 2 percent in stamp duty. So if there is a proprietary rights to a woman or a joint owner, then the registry will also get 1 percent discount. So there is a discount in tax also.

Discount in Property Tax and Registry
On the other hand, if there is a property in the name of women, where there is a discount in the registry, then 2% discount in stamp duty will be given to you if the property is your wife's name. Apart from this, women's exemptions have been made in property tax, but it should be owned by a woman.
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Updated: Monday, April 30, 2018, 9:57 [IST]
Your wife can prove to be very helpful in protecting your income tax. Maybe you will not know this thing. He can not only help you with mental help but also financially. The Indian government has made a special rule regarding women under which Hussband can get tax exemption. There are two ways for this: One can open the account in the wife's PPF and buy a property in the name of the other wife, both of you can save tax but how can you find it in the further slide.

Profit from the PPF account in this way
You can open a public provident fund (PPF) account of your wife because it gives a guaranteed return. Your Wife can deposit up to 1.5 lakh rupees per year in your account. After 15 years, when his PPF account is maturing, he will have a fund of 50 lakh in his account. In this way, if he needs, he can get help of Rs 50 lakh from his wife.

Somehow this will stay the interest rate
At current time, PPF is getting 7.8 percent annually. Accordingly, if you deposit Rs 1.5 lakh every year for 15 years in the PPF account, then the total interest rate at current interest rate will be Rs 43 lakh. The central government reviews the interest rate on PPF scheme every three months. In such a long period, the interest rate on the PPF can also decrease and increase. In such a situation, you can make a fund of about 50 lakhs in PPF account in 15 years. Let us know that in this account, no more than Rs 1.5 lakh can be deposited in a year.

Such tax exemption can be obtained
The biggest benefit of PPF is that the interest paid on the amount deposited in it is tax free. Not only that, the amount received on interest and maturity will be tax free. In such a case, if you invest in PPF under Section 80C to save income tax then you can also take advantage of the tax rebate by showing the amount deposited in your documents.

Buying a property in the name of a wife
If a property is purchased in the name of a woman or the registry of that property in the name of the woman, then you get a discount of up to 2 percent in stamp duty. So if there is a proprietary rights to a woman or a joint owner, then the registry will also get 1 percent discount. So there is a discount in tax also.

Discount in Property Tax and Registry
On the other hand, if there is a property in the name of women, where there is a discount in the registry, then 2% discount in stamp duty will be given to you if the property is your wife's name. Apart from this, women's exemptions have been made in property tax, but it should be owned by a woman.
Click here to view details