Ways to Reduce Your Tax Liability By 20% Tax rebate under Section 88 is available to an individual and HUF. The following are the investment schemes which qualify for deductions from tax payable at a flat rate of 20% of the contributions made. The aggregate contribution to all these schemes qualifying for deduction is subject to a ceiling of Rs. 60,000. Contribution or … [Read more...]
Various Income Tax Saving Schemes
Government have provided with some of the schem,es by which tax can be saved legally, plus these schemes are all the more beneficial to the individual itself. Some of these shemes are listed below: National Savings Certificates (NSC) National Saving Schemes (NSC) is one of the popular Income Tax Saving schemes which is available throughout the year. It can be operated … [Read more...]