Where can you claim tax deductions?
As an earning individual, you are required to pay taxes. It is not limited to your salary alone, but also on your investments. This tax is used towards the development of the nation and the services that are provided to you as a citizen of India. However, there are certain products and services that allow you to claim tax deductions. You can save money with the help of these tax deductions. If you wish to know where you can claim tax deduction and under which income tax slab, continue reading.
What is tax deduction?
Tax deduction signifies the deduction in the amount of tax that you pay for your investments or assets This is different from tax exemption wherein you are completely exempted from tax payment. Tax deduction allows you to pay reduced tax. Using the income tax calculator can...