Smart Tax Planning
Tax planning is not about avoiding taxes but optimizing your liability through legal means. Here are proven strategies to save tax.
Top Tax Saving Options
1. Section 80C Investments (Up to ₹1.5 Lakh)
- PPF - Safe, tax-free returns
- ELSS - Market-linked, 3-year lock-in
- Life Insurance Premium
- Children's Tuition Fees
- Home Loan Principal
2. Health Insurance (Section 80D)
Deduction up to ₹25,000 (₹50,000 for senior citizens)
3. Home Loan Interest (Section 24)
Deduction up to ₹2 lakh on interest paid
4. NPS Contribution (Section 80CCD)
Additional ₹50,000 deduction over 80C limit
Tips for Maximum Savings
- Start investing early in the year
- Choose regime based on your deductions
- Maintain proper documentation
- Consult a tax expert for personalized advice
Professional Tax Planning
Get expert tax planning advice from InputTax.in. We help you save maximum tax legally.