How can a salaried person save tax in India?
How can a salaried person save tax in India? If you earn a decent amount, then you can try to save some tax through deductions under the Income Tax Act. The sections 80C, 80CCC and 80CCD allow people to deduct certain amounts from their salary. A salaried person can take advantage of these deductions and claim them at the time of filing the annual tax returns. There are some ways to save some money.
You can make donations to a specific organization or charity. This can save you a lot of tax if you make cash donations. If you don't have a bank account, you can always use a credit card to pay the tax. a salaried person save tax in India If you want to save more money, you can also donate to certain organisations. Donations can be in cash or through a cheque, and you will be able to claim a partial tax exemption if you make a donation.
Another way to save some tax is to pay for insurance. In some states, medical insurance is a tax-free expense. The government allows this deduction for people who are financially stable and have children. A salaried person can use their insurance premiums to cover the costs of medical treatment for their family. This deduction will help them save a lot of money. If your spouse or children are covered, you can claim a deduction for the premiums.
Contact SmartCA for How to Save Tax in India +91 93808-02000
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