27 Easy Ways to Save Income Tax in India

Everyone wants to increase their income and everyone wants to save income tax.
You might know few of these but I am sure you will find at least one new way from this article that can save more tax this year. This is a long list, so I will keep the descriptions short to save your time.

How To Save Tax in INDIA
1. Interest Income on Saving Account
2. Interest Income on NRE Account
3. Maturity or Claim amount by Life Insurance
4. Educational Scholarship
5. Profit from Selling Shares or Equity Mutual Funds
6. Dividends received from Shares or Equity Mutual Funds
7. Amount received as Gifts on marriage
8. Agriculture Income
9. HUF account for secondary income
10. Inherited Amount through Will
11. Well Known Tax Saving Options under section 80C
12. Money Received from Provident Funds (after 5 years)
13. Tax Saving from Home Loan
14. Tax Saving on Education Loan
15. Medical Insurance
16. Donations
Business Persons – Tax Savings Tips and Tricks
17. Distributed Profit to Partners in Partnership Firms
18. Travel/Hotel Expenses in Business
19. Food Expenses in Business
Tax Savings Tips and Tricks only for Salaried Persons
20. Leave Travel Allowance
21. House Rent Allowance
22. Income from Gratuity
23. Meal Coupons
24. Medical Bills
25. Daily Travel Allowance
26. Company Leased Car
27. Telephone/Internet Expenses

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Ankita Ronveliya