Income tax deductions on life insurance premium, an employee’s contribution towards EPF (Employee Provident Fund), PPF (Public Provident Fund), children’s tuition fees, pension plans, principal repayment on home loans and a host of other investment options are covered under Section 80C of the Income Tax Act. Many taxpayers exhaust the Rs. 1.5 lakh tax deduction limit under Section 80C. Additional investment in the various options will not provide further tax benefits. Here are some of the sections under income tax laws, apart from Section 80C, that help in cutting down the income tax burden.
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10 Income Tax Saving Options Beyond Section 80C Limit upscale furniture stores | |
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