We don’t like parting with our hard-earned money. And especially if you have to pay taxes. If not planned well, taxes can leave a dent in your savings.
The good news is anyone can make well-informed tax-saving decisions. Consult a tax advisor, read up and stay updated about the many available options. You can make use of online calculators to know your income tax liability. Then take stock of your financial liabilities, needs and goals, and look for the best tax-saving schemes that will give you bigger returns. There are several tax-saving options where you can invest your money and gain tax exemption under Section 80.
Let us find out how to save your tax and reduce it to zero with the help of these 13 effective tax-saving ideas.