Save On Income Tax By adopting this simple ways

There are multiple options which would allow you to save income  duty. Listing below some of them

• Invest in  duty- saving instruments  similar as Public Provident Fund( PPF), National Savings Certificate( NSC), Equity- linked Saving Scheme( ELSS), and Sukanya Samriddhi Yojana( SSY).
• Take advantage of the deductions under Section 80C of the Income Tax Act, which allows a maximum deduction of Rs1.5 lakh per  fiscal time on investments and charges  similar as life insurance  decoration, education  freights, and home loan  star prepayment.
• Consider taking a home loan to save on  duty by claiming interest payments as deductions under Section 24 of the Income Tax Act.
• Make use of Section 80D to claim deductions for medical insurance  decoration payments for  tone,  partner, children, and parents.
• Claim deductions under Section 80E for the interest paid on education loans.
• Make use of Section 80GG to claim deductions for rent paid if you don't admit any House Rent Allowance( HRA) from your employer.
• Claim deductions under Section 80TTA for interest earned on savings  regard.
• Claim deductions under Section 80GGC for donations made to political parties or charitable institutions.
• Invest in National Pension Scheme( NPS) and claim deductions under Section 80CCD.
• Claim deductions under Section 80DDB for medical charges incurred on specified  conditions.
• Claim deductions under Section 80U for persons with disabilities.
• Claim deductions under Section 80EE for interest paid on a  casing loan for a first- time home buyer.
• Claim deductions under Section 80G for donations made to certain approved charitable institutions

Regards,
Author