In India, taxes are classified as:
- Direct taxes like income tax, property tax, tax on assets etc. &
- Indirect taxes like GST, VAT, excise tax etc.
Let us now understand how you can utilise these 10 tax saving options to save tax.
Public Provident Fund (PPF)
National Pension Scheme (NPS)
Premium Paid for Life Insurance policy
National Savings Certificate (NSC)
Equity Linked Savings Scheme (ELSS)
Home loan’s Principal Amount
5-Year Tax Saving FDs
Sukanya Samriddhi Account
Children’s Tuition Fees
Interest Income on savings account
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