Everyone hates paying taxes and always are on lookout for Options to Save Tax. However the income tax rules in India are complicated and its becoming more so in recent years. Budget 2020 introduced the concept of New Tax Regime, then there were several changes to the laws in 2020. Thankfully Budget 2021 has been less event full with very minor tweaking to the income tax rules. In this post we try to explore – What is the Maximum Income Tax I can save for FY 2021-22?
To make it simple, we have listed all the tax saving tax sections in the table below. This will help you check if you have taken advantage of the relevant section. We have also published eBook which tells you about all options to save tax that are available to an individual (both salaried & business).
Options to Save Tax for FY 2021-22
Broadly speaking If you are able to avail all these sections you can make more than Rs 14 Lakhs income tax free. But unfortunately not all sections would be applicable for you….