Decoding Tax-Saving Investments
Grow your wealth while legally reducing your income tax liability.
Why Save Taxes?
Tax-saving investments are not just about reducing your tax outgo; they are a powerful tool for disciplined wealth creation. The Government of India offers various deductions, primarily under Section 80C of the Income Tax Act, to encourage citizens to save for their long-term goals like retirement, children's education, and more.
By channeling your money into these specified instruments, you can reduce your taxable income, thereby lowering the amount of tax you pay. It's a win-win: you build a corpus for your future, and you save money today.
Popular Tax-Saving Avenues (Section 80C)
Section 80C allows a maximum deduction of up to ₹1,50,000 from your gross total income.