This discussion explores ways to reduce your income tax liability. It highlights that specific advice requires details of your income sources. Various deductions are available under Chapter VI-A of the Income Tax Act 1961, including sections 80C to 80U, which cover investments in schemes like PPF, LIC, ELSS, health insurance, and eligible donations.
There are various Deductions available under various Sections of the Income Tax Act 1961 inorder to Save Tax.
Refer Deductions under CHAPTER VIA of the Income Tax Act 1961. It consists of Section 80C to 80U which deals with various Tax Savings instruments ( like investment in PPF, Sukanya Samridhi Scheme, LIC, ELSS, Health Insurance, Donations to various eligible organisation etc ).