The financial year 2018-19 has ended and the individuals having gross total income exceeding the taxable limit must have filed an ITR on or before the due date. Especially the salaried individuals in our country, who are the largest taxpayers to the government, have to plan their tax saving financial decisions beforehand. The tax planning during the financial year allows the taxpayers to take the best use of the various tax exemptions, deductions, and allowances available under the Income Tax Act, 1961. As the financial year, 2018-19 ends, the salaried individuals must have taken the advantage of tax planning by making the investments in different financial products or taking a home loan or education loan etc.
But still there may be many of us who are not aware of the ways to save the tax avail the benefits offered by the government. The best ways for salaried individuals that can be adopted for tax planning can help to save tax and also can help in increasing the investment corpus says Gaurav Gaur, CEO and Founder, mudrahome.com.
Additional reading: Less Known Facts To Save On Taxes
Following are few ways to understand the eligible tax benefits:-
Know More About: Tax Benefits Of Home Loan