My salary is 85k, take home is around 78k after tds deduction, my kids education is over like they are in 4th year of degree, this year there will be no educational fees, but i have some emi to be cleared which is not under taxation, small amount of rent, lic, and medical insurance total of under 2lacs per year, how do i save tax?
Ans: Hi Santosh kindly check following points
Check if sec 80 C benefit Is complete, means you are saving full Rs 1.5 lacs in insurance or tax saving mutual funds or tax saving bank deposits or ppf etc.
Check if Sec 80D benefit is complete, means that you are saving Rs 25000 for self n spouse n kids below 25 years and Rs 50000 for dependent senior citizen parents
Check if sec Sec 80 CCD(1B) is utilized full by investing in NPS, max Rs 50000
Wuth these 3 sections max tax saving can be done
