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As I am planning my retirement ,it’ll be beneficial to know my projected regular passive income that I could create from my investment profile and interest received from my cash account. This is like knowing what you shall be receiving from your monthly paycheck from your regular job. Once we involve some kind of assurance of our payout, we can plan our expense around what we should received and not overspend during our retirement.

As everyone know, most of my investment are in bonds , reits & preferred stocks and shares.These investments have quarterly, monthly and semi-annual payout depending on the investment instruments. Therefore, it is rather easy to work through my estimated dividend and interest payouts on a monthly basis throughout the whole year. As I have injected some capital in Jan/Feb and re-balancing of investment portfolio, I am again working out my spreadsheet to calculate my project passive income for the next 12 months. The new task passive income from my international investment appear to USD33K (increase of USD2K) and from my SGX collection, the passive income is SGD19.8K (a rise of SGD1.8K). Furthermore, I am also anticipating around 7K interest from my cash accounts (FD/money finance). Final total shall be SGD 72-73K within the next 12 weeks.

Tution Fees: Amount paid as tution charge for the training of two children of the assessee is qualified to receive deduction under section 80C of Indian TAX Act. Section 80D of Indian Income Tax Act is especially useful if your employer does not cover your health or medical expenses. It is a good idea to get medical insurance or health insurance for you, your spouse, dependent children or reliant parents, as possible state a deduction of upto Rs.

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15000/- per anum for the premia paid with this insurance. For senior citizen this limit is Rs. Rs. 15,000 , whichever less. 2. Total amount of high quality paid for medical health insurance of your parents or Rs. Section 80DD of Indian Income Tax Act provides provision for tax deduction if you incurred medical expenditure for a dependents who are disabled.

Here dependent means spouse, children, brothers, sisters or anybody of them. The utmost taxes deduction provided by section 80DD is Rs. 50000 in case of ordinary disability and Rs. 75000 if the disability is severe. The definition of severe impairment is as defined in the official page of Indian Income tax Act.

1. Rent you pay minus 10% of your salary. 2. 25% of your gross total income. 3. Rs. 2000/- per month. Under section 80E of Indian TAX Act, any amount appealing paid on educational loan taken for your higher education or higher education of your husband / wife or children is deductible from your taxable income. Here higher eduction means – studies for just about any graduate or post-graduate course in engineering, medicine, management or for post-graduate course in systems or 100 % pure sciences including figures and mathematics.