FinCalC: Income Tax Deducted From Salary? What You Can Do to Save Income Tax[VIDEO]

Income Tax already Deducted from your Salary? Where to Invest to Save Income Tax, Read & WATCH to Know more...

If you are one of them for whom Income Tax was deducted from Salary [December, January, February, March], then don't worry, you can still invest in some Deduction Sections to Save Income Tax being deducted from Salary.
In this post, we will see Where To Invest To Save Income Tax Deducted From Salary with the help of a VIDEO.

Before getting started, Download our FREE Calculator Android App(FinCalC) for Financial Planning and Calculating Income Tax:

Download FREE Calculator - FinCalC

Where to Invest to SAVE INCOME TAX :
The two most important Deduction Sections are:

SECTION 80C:
Section 80C provides a maximum Deduction of Rs.1,50,000 to be invested in a Financial Year (for FY 2017-18). You can make use of this maximum limit by investing in following Schemes:

1. Provident Fund (PF or EPF)
2. Public Provident Fund (PPF)
3. Equity Linked Saving Schemes (ELSS)
4. Life Insurance Policies (LIP)
5. 5-Year Fixed Deposits (FD)

SECTION 80CCD:

Section 80CCD provides a maximum Deduction of Rs.50,000 to be invested in a Financial Year (for FY 2017-18). It includes:

1. National Pension Scheme (NPS)

In this way you can claim a maximum deduction of Rs.2,00,000:
1) Section 80C     - Rs.1,50,000
2) Section 80CCD - Rs.50,000

So, if Income Tax is deducted from your Salary in the month of December / January / February / March, you can still Save your Income Tax by Investing Appropriate Amount based on your Income for that particular Financial Year before 31st March. You will receive appropriate Refund after filing your Income Tax Return for that Financial Year.

Watch VIDEO:

YouTube Channel - CLICK HERE

Follow this Blog and our YouTube Channel for more updates on Financial Planning. Also, DOWNLOAD FinCalC APP - our FREE Android Calculator.

Feel free to comment in case you have any queries. Stay Tuned.