A Thread🧵on various #IncomeTax #Deductions.

Must read for everyone.

A simple & legitimate way to to save taxes every year!

(RT to maximize reach.)

Money Saved is Money Earned !

#IncomeTax #Tax #ELSS #TaxSaving #Investing #TaxPlanning

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When the month of March starts or is about to end suddenly everyone remembers one thing #TaxSaving ...

This is where #TaxDeductions come into picture.

Deductions allowed under #IncomeTax act help you reduce your taxable income.

People normally know a bit about Section 80C Deduction which allows a person to claim a deduction of Rs 1.5 lakh on total income.

But there are various other common deductions which anyone can claim.

This thread is about such common deductions.

Section 80C: for #TaxSaving #Investments & Payments.

A deduction up to Rs 1,50,000 is allowed under #Section80C of Income Tax Act 1961 in respect of eligible investments or expenditures.

* See Note Ahead

Discussed in detail 👉 https://t.co/a5tbOUJoHQ

#TaxSaving #TaxPlanning

Section 80CCC: for Contribution to #PensionFund

A deduction up to Rs 1,50,000 is available under Section 80CCC of #IncomeTax Act 1961 in respect of contributions made by an individual towards specified pension funds.

* See Note Ahead

#TaxSaving #TaxPlanning #Investing