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Taxpayers often stop at Section 80C when planning their savings, overlooking several other powerful deductions under the Income Tax Act, 1961. These lesser-known sections can substantially reduce tax liability while aligning financial goals with long-term benefits such as health coverage, education, and retirement planning. With the right mix of deductions and informed investment decisions, tax planning becomes a strategic advantage rather than a routine annual task. Table

Section 80C  and Section 80CCD  are two of the most popular tax-saving provisions under the Income Tax Act, 1961. Both offer significant opportunities to lower taxable income, but their scope and eligibility differ. Section 80C focuses on diversified investments such as ELSS, PPF, and life insurance, while Section 80CCD encourages retirement savings through the National Pension System (NPS). The right choice depends on income level, employment type, and investment goals. Unde

Section 80CCD(1B) of the Income Tax Act provides an additional deduction of up to ₹50,000 annually for contributions to the National...

An essential application for withdrawing the balance of the Employee Provident Funds (EPF) is EPF Form 19. An employee submits it to...

For pensioners, tax planning can be more complex than for salaried individuals due to fixed income sources, allowances, and investment...

This guide on NPS employee contribution u/s 80CCD(1B) shows how you can save a good chunk of tax, up to ₹50,000, for the Financial Year...

Section 80CCD(1B) presents a valuable opportunity for taxpayers to reduce their taxable income further by making contributions to the...

Members of the Employees' Provident Fund Organization (EPFO) have the option to save money in pension funds through two different account...

The Central Government of India launched the National Pension Scheme (NPS) for the public, private, and unorganized sectors. Anyone can...

Section 80CCD(1B) provides a unique opportunity to claim an additional tax deduction of up to ₹50,000 on contributions made to the...