Tax Saving Tips: You can apply for tax saving in many different government schemes. Along with this, if you are planning for tax saving, then we are telling you some measures. Which will reduce the burden on your pocket.
Tax Saving Tips: When it comes to paying tax to the salaried class people, everyone wants to save tax in some way. But instead of Jugaad, one should prepare wisely to save tax. This can save a lot of tax. It will not put much burden on your pocket. You should use the allowances you get with your salary in the right way. In the old regime, taxpayers get the benefit of many deductions. Which includes investment in PPF, ELSS or the benefits of section 80C.
Giving donation
Under section 80C, you can claim deduction on the donation given. Even if you have already completed the limit of section 80C. You just need to have all the bills of donation.
Buy health insurance
According to section (80D) of Income Tax, if you take health insurance for your parents, then you can claim a deduction of up to Rs 25,000 on its premium. In the case of senior citizens, this deduction reaches up to Rs 50,000. Talking about the total deduction, up to Rs 75,000 can be taken. This also includes spouse and children.
Save lakhs of tax by investing in these schemes
At present, investments can be made in many government schemes like PPF, NPS, SSY, ELSS and SCSS. All these schemes are very popular among investors. By investing in these schemes, you can save lakhs of rupees in tax.
Claim of HRA
If you live in your parents’ house, then you can claim deduction by paying rent to them. You will be given this exemption under section 10 (13A). For this, all bills should be valid.
