Payment of income tax is essential for every citizen of India who has an income tax liability, as per the rules and regulations of the Income Tax Act 1961. But this does not mean that you have to pay tax on the entire income that you have earned in a given financial year. There are several provisions under the Income Tax Act that allow you to claim deductions against specified investments and expenses.
Plan your Taxes to Save your Income
By planning your taxes carefully, you can save a significant amount towards your taxation liabilities and create an additional source of income for yourself. With dual benefits of tax saving and income generation, these deductions offer you significant advantages. Government introduces new deductions or amendments from time to time that you must keep a close watch on. One such deduction that is available to you is Sec 80 CCD (1B) which pertains to the contributions made towards NPS.
Request a demo
+91-7250088018