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5 ways to How to save income tax legally
1. Save Tax U/s 80C, Section 80CCC, Section 80CCD of the Income Tax Act

To encourage the habit of saving, and to direct the savings of taxpayers into lawful channels, the Central Government permits certain investment- linked deductions, provided the amount is invested in instruments as specified in Section 80C, Section 80CCC & Section 80CCD of the Income Tax Act.

Public Provident Fund Accounts
5 Year Tax Saving Fixed Deposit
Pension Plans Contribution to Employee Provident Fund
Life Insurance Policy
National Savings Certificate (NSC)
Equity Oriented Mutual Fund
Note that an individual can claim an additional deduction of Rs. 50,000 U/s 80CCD by investing in the National Pension Scheme (NPS).


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