How can i save tax on salary

Following are the tips to save Income Tax :-

1) Invest upto Rs. 1 lakh in Public Provident Fund A/c claim deduction u/s 80C. The Interest received is exempt.

2) Invest in IDFC Infra Bonds upto Rs. 20000 claim deduction u/s 80CCF.

3) Take out LIC Policies of your Spouse and Children and claim deduction under section 80C.

4) Take out Medi Claim Policies of your dependants and claim dedcution u/s 80D.

5) Invest in National Savings Certificate and claim dedcution u/s 80C

Moreover, in case of a Salaried person TDS is deducted, therefore there is no Tax Liability payable by the person.

Note : Deduction u/s 80C is available upto Rs. 100000.

Regards,

Devendra Kulkarni