Tax saving is important, especially when investors can save up to Rs. 53,303 in taxes! Section 80C of the Income Tax Act, 1961 provides options to save tax by reducing the taxable income by up to Rs. 1.50 Lakh. But, wealth creation is also important. Isn't it? That's why these solutions are ideal for investors who would like to create wealth along with tax saving.
Tax savings of Rs. 53,303 is calculated assuming qualifying amount of deduction is Rs. 1.50 lakh & investor falls in the top income tax slab of 30% & includes applicable cess. Investors are advised to consult their tax advisor in view of individual nature of tax benefits.
Further, Tax deduction(s) available u/s 80C of the Income Tax Act, 1961 is subject to conditions specified therein. Investors are requested to note that fiscal laws may change from time to time and there can be no guarantee that the current tax position may continue in the future.