Save Tax: Your income tax will be saved this way! | Income Tax savings Tips

The number of people working in the country is very great, and salaries are taxable, on which people must also pay tax, with varying slabs for how much tax must be paid on how much wage. People must choose a tax slab based on their income and pay the appropriate amount of tax. However, there are some methods for obtaining income tax exemption.

PPF investments

You may strengthen your financial portfolio in addition to saving money during tax season. You can claim a deduction on your ITR if you invest in a tax-saving scheme before March 31st. PPF stands for Public Provident Fund and is a long-term investment choice. The PPF is currently earning 7.1 percent interest. You can put money into this programme. Tax exemption is available under Section 80C of the Income Tax Act for annual investments of Rs 1.5 lakh in PPF. The government guarantees that money invested in PPF will not sink.