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Best ways to save Income Tax for Salaried Individuals

Medical Insurance 

Deduction up to Rs 25,000 can be claimed under section 80D on medical insurance for self, spouse and dependent children. An additional deduction of up to Rs 25,000 is available on the medical insurance of parents if they are less than 60 years of age.

Interest on Home Loan

Tax benefits can be claimed u/s 24 towards the interest payment on a home loan. For Assessment Year 2021-2022, the maximum deduction for interest paid on house property is Rs 2 Lakh.


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CA Rupali Gupta

CA Rupali Gupta