How to save income tax for salaried person in india
Invest in tax-saving instruments:
Like Public Provident Fund (PPF), National Savings Certificate (NSC), Tax-Saver Fixed Deposit, Equity Linked Savings Scheme (ELSS), Unit-Linked Insurance Plan (ULIP), or the National Pension System (NPS)
These investments are eligible for a deduction of up to Rs. 1.5 lakhs under Section 80C of the Income Tax Act.
Claim House Rent Allowance (HRA): If you are staying in a rented accommodation, you can claim HRA to reduce your taxable income.
Deductions for medical expenses: You can claim a deduction of up to Rs. 25,000 under Section 80D of the Income Tax Act for medical insurance premiums paid for yourself, your spouse, and dependent children.
Claim deductions for interest on home loan: If you have taken a home loan, you can claim a deduction of up to Rs. 2 lakh under Section 24 for the interest paid on the loan.
you can claim a deduction of up to Rs. 1.5 lakh under Section 80C for the principal repayment of the home loan.
Leave Travel Allowance (LTA): You can claim tax exemption on the LTA received from your employer for two domestic trips in a block of four years.