Tax Saving
What is Tax Saving?
There is more to tax saving than the exemptions available on investment made by you. With right investments, you will pay the right amount of tax and know how to tax proof your income and gains. After all, your capital is more productive in your hands and it can work wonders for you if invested properly. It starts with tax saving which can increase the take home income. These investments can also cater to a few of your needs. Tax saving is not restricted only to tax savings investments under Section 80C. There are several other components e.g. HRA, Home Loans, LTA, Sec 80D, Re-imbursements, etc to reduce the taxable income.
Explore Your Tax Saving Potential Beyond 80C
One of the most popular tax-saving options is Section 80C, and generally, everyone is aware of this section; still, in addition to this section, there are other tax-saving deductions also available that you may avail and save taxes. Using our tool, you can identify various tax savings options apart from Section 80C and a customized report for your case.
Beyond Section 80C, taxpayers can explore various avenues to optimize their tax-saving potential. Investing in equity-linked savings schemes (ELSS) offers potential returns along with tax benefits under Section 80C. Health insurance premiums for yourself, family, and parents can be claimed for deductions under Section 80D. Contributions to the National Pension System (NPS) qualify for an additional deduction of up to Rs. 50,000 under Section 80CCD(1B).
Benefits of Retirement Saving
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