Some tips for you to make tax saving #NotSoTaxing:

Hack the Tax with these tips

• Find out all deductions available within your tax slabs

• Claim deductions offered on employee benefits besides EPF, HRA

• Consider investing in Equity Linked Saving Scheme (ELSS) for dual purposes - tax saving & wealth creation

• Since capital gains up to Rs. 1 lac are tax-free, create a good long-term portfolio to minimize tax

Get Exemptions on

• Interest income from Savings account or other bank deposits upto Rs. 10,000p.a. u/s 80TTA(1)

• Got married? Need not pay any tax on cash gifts received on your marriage u/s 56(2)

• No tax on money received from Direct Relatives

• Cash gifts received from non-relatives up to Rs. 50,000 are tax free

• Received money/property under a Will or as inheritance? It's exempted from tax

You can avail Deduction

• Interest paid on Education Loan u/s 80E for 8 years from the date of starting repayment

• Premium up to Rs 25,000 for medical insurance taken for self, spouse &dependent children

• Up to Rs 50,000 for medical insurance taken for parents aged 60 years or above

• Up to 100%deduction for contributions made to Government notified funds u/s 80G

• On Home Loan Principal repayment up to Rs. 1.5 lacs u/s 80C and interest paid up to Rs. 2 lacs u/s 24 and 80EE

• On Children's tuition fees up to Rs.1.5 lacs under Section80C

• On Medical treatments of dependents with a 40% disability for Rs. 75,000

Source: https://cleartax.in/s/80c-80-deductions

https://www.incometaxindia.gov.in/_layouts/15/dit/mobile/faqs/faq-questions.aspx?key=FAQs+on+Gifts+received+by+an+individual+or+HUF&k=

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.