Posted October 16, 2013 by advocateguru in Articles

How to Save Tax?

There are many ways to save tax like when it’s about income from salaries, Opting for food coupons instead of lunch allowances, as they are exempt from tax up to

Rs. 60,000 per year, Include medical allowance, transport allowance, education allowance, uniform expenses (if any), and telephone expenses as part of salary.

Produce bills of actual expenses incurred for these allowances to reduce tax

Opt for the company car instead of using your own car, to reduce high prerequisite taxation, medical reimbursement, children education allowance, telephone allowance, Leave travel allowance, claiming house rent allowance, conveyance allowance, deductions u/s 80C,80D,80DD,80CCC, Deduction for Interest from Savings Bank Accounts,80G,80E, 80U, 80CCC, 80IE, 80E, 80DDB, 80G,etc.,