A person is earning Rs.18 lakhs per annum. Apart from investing under relevant Sections 80C, 80D, etc., how much one can reduce the tax liability?
Ans: This is very general question, but i am trying to reply to the extend , basis information, you have provided.
Apart from Sec 80 C and 80 D, deductions can be availed by investing in National pension schemes of additional Rs. 50,000, deduction of saving bank account interest is available under Sec 80TTA and housing loan interest if loan is availed to buy a house , for upto Rs. 2.00 lacs . These are apart from other deductions, which you may be able to claim.