Conclusion

Saving of Income Tax helps individuals to lighten the burden of Income Tax payments. While most of us are aware of the deductions available under section 80C of the Income Tax Act, there are certain other sections that can help you to reduce tax liability.

By saving Income Tax, refer to the various deductions and Tax benefits one can obtain against different expenditures and investments made in one single financial year. These deductions can be obtained under various sections of the Income Tax Act.

Many people refer to investing in PPFs, Mutual Fund Plans, purchase of property, etc. With the rise in demand for Mutual Funds in India, along with the Tax-Saving Mutual Fund Schemes, people prefer to invest in order to save up on Income Tax.

Some of the sections under which you can get deductions are-

To conclude, we can say that there are various ways to reduce your Income Tax burden. All you have to do is make sure to secure the correct deductions on your Income Tax after thorough research and careful analysis.

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