How to save tax on salary income of 12 lakhs

In this article, we will talk about different ways via which you can save income tax legally with various options & investments.

At the time of filing the Income Tax return, the Indian Income Tax Act, 1961, provides certain deductions.

How to reduce income tax in new regime

These deductions can be used by the taxpayers of all slabs to save their tax. As a taxpayer, if you have done proper tax planning, then you can easily avail deductions and save yourself from paying taxes.

Tax Avoidance Is Legal; Tax Evasion Is Criminal

If you plan everything properly with an aim to save tax, then the deductions that are available in the Indian Contract Act, 1961, would be subtracted from the total gross income.

This would reduce the total income & hence, the tax that has to be levied would be done on a lesser amount, thereby saving your taxes.

How to Save Income Tax Legally in India

#1 Save tax under Section 80C, Section 80CC, and Section 80CCD

To promote savings and to make sure that the savings of common people do not go in vain, the Government has allowed a certain number of deductions.

These deductions are to c

how to reduce taxable income for high earners in india

how to reduce income tax in india