Tax Savings is an effective measure to ensure that people save some of their tax liability in a legal way. There are many investment options which provide deductions to the assessee and some of them are listed below. The tax saving schemes are the one of the part of tax planning. Tax planning is legal and everyone should do it to increase wealth.
However, it shall be noted that most of the above mentioned tax saving schemes directly fall under the deductions category of section 80C, where the maximum permissible limit is upto [Rs. 1, 50, 000 (A.Y. 2017-18 & 2018-19)]. Henceforth, the total amount as a collective of all the available schemes would be taken into consideration. Still one can use medical expenses and other similar expenses to avail further deductions u/s 80D.
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