The Best And Legal Way Of Income Tax Reduction Strategies Are Provided Under The Section 80C Which Allows You To Reduce Your Income Tax.

30% of the total income over and above ₹10 lakh + ₹1,12,500) an additional health and education cess at 4%. Section 80c of the income tax act. These special fds’ interest rate is generally fixed.

The Lower Your Taxable Income, The Lower Taxes You Ought To Pay.

Payments for life insurance premium, pension schemes, provident fund. Here are 12 steps you can take now to reduce your tax bill and pay the irs only what you need for 2021. 5 smart ways to save tax without making any investment.

By Spending This Money, You Are Reducing The Part Of Your Income That Is Taxable By The Government.

Here are seven ways you can reduce your tax liability: Top 10 effective ways to save income tax. In other words, they are either/or investments and making one type of investment will reduce room for another:

There Are Five Ways To Get An Income Tax Deduction On Your Home Loan (S).

Employees' provident fund ( epf) as per the epf act, 12 percent of an employee's basic salary and dearness allowance has to be invested in epf and the employer. The rate of interest ranges between 7.00% to. Use your home loan efficiently to save more tax.

Taking A Housing Loan Is One Of The Best Ways To Save Tax.

20% of total income over and above ₹5 lakh + ₹12,500) above ₹10 lakh. Tax saving fixed deposits ( fd ): The new tax regime was announced in budget 2020 and introduced new tax slabs as well as much lower tax rates than the old tax regime.