5 tax-planning tips for salaried individuals

#1
With the tax-planning season about to end, most individuals are rushing around to make investments to minimize their tax liability. It has been observed that individuals (often salaried ones) end up paying more taxes than they are obligated to. While lack of sufficient time to conduct the tax-planning exercise is a reason, largely, this can be attributed to lack of awareness about different incentives, allowances and rebates under the Income Tax Act. Apart from the Section 80C deductions which are quite popular, there are various other sections which can help salaried individuals save taxes.

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