Beyond 80C: Tax Saving Strategies
Section 80C is the most popular tax-saving avenue, offering deductions up to 1.5 Lakhs. But what if you have exhausted this limit? There are several other legal ways to reduce your tax liability.
Alternative Deductions
- NPS (Section 80CCD(1B)): An additional deduction of 50,000 for National Pension System contributions.
- Health Insurance (Section 80D): Deductions for premiums paid for yourself and your parents.
- Home Loan Interest (Section 24(b)): Up to 2 Lakhs deduction on interest paid for a self-occupied property.
Proper tax planning should begin in April, not March. Let our experts optimize your tax outflow.