The Annual Investment Allowance AIA is a form of tax relief for businesses in the UK that is designated for the purchase of business equipment. Each tax year you get an ISA allowance which sets the maximum you can save within the tax-free wrapper.
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And while the name is fancy the concept is simple.
. For property investors it means the deductions you can claim as an expense for the ageing wear and tear of. EPF investment up to Rs 15 lakh per annum qualifies for tax exemption under Section 80C of the Income Tax Act. Capital allowance is a tax deduction claimable for the decline in value depreciation of capital assets such as your investment property.
The maturity amount is also exempt from tax once an employee contributes for more. Annual Investment Allowance AIA. Its just a savings or investment account you never pay tax on.
For the current 202223 tax year the maximum you can save in an ISA is 20000. How much can I save in an ISA.
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